Brookfield Renewable (NYSE:BEPC) Sets New 12-Month Low - Here's What Happened

Key Points

• Brookfield Renewable hit a new 52-week low, trading as low as $32.21 after closing previously at $34.17, on heavy volume of more than 5.1 million shares.
• Recent analyst sentiment remains cautious: JPMorgan kept a neutral rating, while other firms issued mixed updates, leaving the stock with an average "Reduce" rating and a consensus price target of $39.67.
• The company recently paid a quarterly dividend of $0.392 per share, equal to an annualized yield of about 4.8%, while institutional ownership remains high at 75.12%.

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $32.21 and last traded at $32.6340, with a volume of 5145484 shares trading hands. The stock had previously closed at $34.17.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BEPC shares. JPMorgan Chase & Co. reissued a "neutral" rating and set a $38.00 price objective on shares of Brookfield Renewable in a research report on Tuesday. Wall Street Zen lowered Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Barclays raised their price target on Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Finally, Weiss Ratings lowered Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a report on Monday, May 4th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $39.67.

Brookfield Renewable Price Performance

The firm has a 50-day moving average of $36.88 and a 200 day moving average of $39.26. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were paid a $0.392 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.8%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Brookfield Renewable by 81.0% during the third quarter. JPMorgan Chase & Co. now owns 228,888 shares of the company's stock worth $7,878,000 after acquiring an additional 102,406 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Brookfield Renewable by 502.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 78,837 shares of the company's stock worth $3,023,000 after purchasing an additional 65,757 shares during the period. Eagle Global Advisors LLC bought a new position in shares of Brookfield Renewable during the fourth quarter worth about $1,263,000. Oak Thistle LLC bought a new position in shares of Brookfield Renewable during the 4th quarter worth approximately $1,116,000. Finally, Vanguard Group Inc. grew its position in Brookfield Renewable by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company's stock valued at $233,817,000 after purchasing an additional 90,863 shares in the last quarter. Institutional investors own 75.12% of the company's stock.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation NYSE: BEPC is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.

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