Brookfield Renewable (NYSE:BEPC) Trading Down 3.2% - Time to Sell?

Brookfield Renewable Co. (NYSE:BEPC - Get Free Report) shares fell 3.2% during mid-day trading on Wednesday . The company traded as low as $29.74 and last traded at $29.55. 252,126 shares changed hands during trading, a decline of 76% from the average session volume of 1,061,925 shares. The stock had previously closed at $30.53.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BEPC. Wells Fargo & Company reduced their target price on Brookfield Renewable from $33.00 to $32.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Barclays started coverage on Brookfield Renewable in a report on Wednesday, April 2nd. They set an "equal weight" rating and a $31.00 target price on the stock.

Brookfield Renewable Price Performance

The company has a 50 day moving average of $28.08 and a 200-day moving average of $28.20. The firm has a market capitalization of $4.28 billion, a P/E ratio of -33.22 and a beta of 1.15. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 30th will be paid a $0.373 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.49 annualized dividend and a dividend yield of 5.05%. Brookfield Renewable's payout ratio is -167.42%.

Institutional Investors Weigh In On Brookfield Renewable

Several large investors have recently added to or reduced their stakes in the business. Modern Wealth Management LLC grew its stake in Brookfield Renewable by 6.8% during the first quarter. Modern Wealth Management LLC now owns 14,529 shares of the company's stock worth $406,000 after purchasing an additional 919 shares during the period. Rhumbline Advisers lifted its holdings in shares of Brookfield Renewable by 5.8% in the first quarter. Rhumbline Advisers now owns 123,616 shares of the company's stock valued at $3,451,000 after purchasing an additional 6,814 shares in the last quarter. Strs Ohio bought a new stake in Brookfield Renewable during the first quarter worth $2,100,000. Foresight Group Ltd Liability Partnership bought a new stake in Brookfield Renewable during the first quarter worth $6,338,000. Finally, Advisors Capital Management LLC lifted its holdings in Brookfield Renewable by 9.0% during the first quarter. Advisors Capital Management LLC now owns 1,655,180 shares of the company's stock worth $46,212,000 after acquiring an additional 136,037 shares during the period. Institutional investors and hedge funds own 75.12% of the company's stock.

Brookfield Renewable Company Profile

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.