Brookfield Renewable (NYSE:BEPC) Hits New 52-Week Low – Here’s Why

Brookfield Renewable Corporation (NYSE:BEPC)’s stock 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 traded. The stock had previously closed at $34.17.

Analysts Set New Price Targets

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

Brookfield Renewable Stock Down 0.1%

The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 1.81. The firm has a fifty day moving average of $36.77 and a two-hundred day moving average of $39.18.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Friday, May 29th were given a dividend of $0.392 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.7%.

Institutional Investors Weigh In On Brookfield Renewable

Several hedge funds have recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in Brookfield Renewable during the first quarter valued at approximately $756,000. Integrated Wealth Concepts LLC purchased a new stake in Brookfield Renewable during the first quarter worth $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Brookfield Renewable by 115.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company’s stock worth $1,813,000 after buying an additional 34,799 shares during the period. Goldman Sachs Group Inc. boosted its position in Brookfield Renewable by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company’s stock valued at $17,995,000 after acquiring an additional 158,771 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Brookfield Renewable by 2.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company’s stock worth $6,310,000 after acquiring an additional 4,768 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

About Brookfield Renewable

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.