Brookfield Renewable (NYSE:BEPC) Sets New 12-Month Low - Should You Sell?

Key Points

• Brookfield Renewable shares hit a new 52-week low, falling to $28.76 and trading below both their 50-day ($32.59) and 200-day ($36.53) moving averages.
• Analyst sentiment is cautious: the stock has an average “Reduce” rating, with two Hold and two Sell ratings, and a consensus price target of $39.00.
• The company declared a quarterly dividend of $0.392 per share, equivalent to an annualized $1.57 payout and a 5.5% yield; institutional investors own 75.12% of the stock.

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) hit a new 52-week low during trading on Thursday . The company traded as low as $28.76 and last traded at $28.7750, with a volume of 62340 shares trading hands. The stock had previously closed at $29.22.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Weiss Ratings restated a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Wall Street Zen downgraded shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Finally, Barclays lifted their target price on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $39.00.

Brookfield Renewable Stock Down 2.9%

The firm's fifty day moving average is $32.59 and its 200-day moving average is $36.53. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.392 per share. The ex-dividend date is Monday, August 31st. This represents a $1.57 annualized dividend and a yield of 5.5%.

Institutional Investors Weigh In On Brookfield Renewable

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEPC. Clearbridge Investments LLC lifted its position in shares of Brookfield Renewable by 103.3% during the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company's stock worth $353,183,000 after purchasing an additional 4,681,203 shares in the last quarter. Norges Bank acquired a new stake in shares of Brookfield Renewable in the fourth quarter valued at approximately $68,132,000. Gotham Asset Management LLC raised its position in Brookfield Renewable by 128.4% in the 4th quarter. Gotham Asset Management LLC now owns 1,287,302 shares of the company's stock worth $49,355,000 after purchasing an additional 723,692 shares during the last quarter. Baird Financial Group Inc. raised its position in Brookfield Renewable by 11.4% in the 2nd quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company's stock worth $123,800,000 after purchasing an additional 340,103 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its position in Brookfield Renewable by 30.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,260,409 shares of the company's stock worth $48,324,000 after purchasing an additional 293,141 shares during the last quarter. Institutional investors and hedge funds own 75.12% of the company's stock.

About Brookfield Renewable

Brookfield Renewable Corporation NYSE: BEPC is a renewable power and sustainable infrastructure company associated with Brookfield Renewable Partners L.P. The company owns and operates a diversified portfolio of renewable energy assets, including hydroelectric, wind, solar and distributed energy facilities, as well as energy storage and other sustainable solutions.

Its operations span North and South America, Europe and the Asia-Pacific region. Brookfield Renewable generates electricity for utilities, businesses and other customers through long-term power purchase agreements and other commercial arrangements.

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