Brookfield Renewable (NYSE:BEPC) Sets New 12-Month Low - Time to Sell?

Key Points

• Brookfield Renewable shares hit a new 52-week low of $27.57, trading well below their 50-day and 200-day moving averages.
• Analyst sentiment is cautious: the stock carries a consensus “Reduce” rating, with two Hold and two Sell ratings, despite a consensus price target of $39.00.
• The company pays a quarterly dividend of $0.392 per share, equivalent to an annualized $1.57 dividend and a 5.6% yield; institutional investors own 75.12% of outstanding shares.

Shares of Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) reached a new 52-week low during trading on Wednesday. The company traded as low as $27.57 and last traded at $28.0810, with a volume of 1673828 shares traded. The stock had previously closed at $27.97.

Analysts Set New Price Targets

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

Brookfield Renewable Stock Performance

The firm has a 50-day simple moving average of $32.12 and a two-hundred day simple moving average of $36.17. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.40.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were given a dividend of $0.3920 per share. This represents a $1.57 annualized dividend and a yield of 5.6%. The ex-dividend date was Monday, August 31st.

Institutional Investors Weigh In On Brookfield Renewable

Hedge funds have recently bought and sold shares of the stock. Allied Private Wealth LLC purchased a new position in shares of Brookfield Renewable during the 2nd quarter valued at approximately $27,000. SHP Wealth Management purchased a new stake in Brookfield Renewable in the 4th quarter worth $30,000. NewEdge Advisors LLC purchased a new stake in Brookfield Renewable in the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Brookfield Renewable during the second quarter worth $33,000. Finally, Curio Wealth LLC raised its position in Brookfield Renewable by 30.4% during the fourth quarter. Curio Wealth LLC now owns 1,244 shares of the company's stock worth $49,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Company Profile

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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