Brookfield Renewable (NYSE:BEPC) Shares Up 6.4% - Here's Why

Brookfield Renewable Co. (NYSE:BEPC - Get Free Report) rose 6.4% during mid-day trading on Monday . The stock traded as high as $31.38 and last traded at $31.50. Approximately 173,405 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 951,201 shares. The stock had previously closed at $29.61.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BEPC shares. Wells Fargo & Company reduced their price target on shares of Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Barclays started coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $31.00 target price for the company.

Brookfield Renewable Price Performance

The stock has a market capitalization of $4.65 billion, a PE ratio of -36.03 and a beta of 1.14. The firm's fifty day moving average price is $28.13 and its two-hundred day moving average price is $28.14. The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89.

Brookfield Renewable Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 annualized dividend and a dividend yield of 4.65%. Brookfield Renewable's payout ratio is -167.42%.

Institutional Trading of Brookfield Renewable

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Brookfield Renewable by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 5,717,397 shares of the company's stock valued at $159,596,000 after purchasing an additional 135,776 shares during the period. Parnassus Investments LLC boosted its holdings in shares of Brookfield Renewable by 24.2% in the first quarter. Parnassus Investments LLC now owns 4,855,793 shares of the company's stock worth $135,574,000 after buying an additional 945,297 shares during the last quarter. Principal Financial Group Inc. grew its position in Brookfield Renewable by 6.0% during the first quarter. Principal Financial Group Inc. now owns 4,430,978 shares of the company's stock valued at $123,713,000 after buying an additional 251,310 shares during the period. ClearBridge Investments Ltd grew its position in Brookfield Renewable by 31.1% during the fourth quarter. ClearBridge Investments Ltd now owns 2,894,836 shares of the company's stock valued at $80,071,000 after buying an additional 686,319 shares during the period. Finally, Epoch Investment Partners Inc. increased its holdings in Brookfield Renewable by 27.8% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,252,187 shares of the company's stock valued at $62,295,000 after buying an additional 490,448 shares during the last quarter. Institutional investors own 75.12% of the company's stock.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.

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