Brookfield Renewable (NYSE:BEPC) Hits New 1-Year Low – Time to Sell?

Brookfield Renewable Corporation (NYSE:BEPC) reached a new 52-week low during trading on Wednesday . The stock traded as low as $31.84 and last traded at $32.5410, with a volume of 2548242 shares traded. The stock had previously closed at $32.60.

Wall Street Analysts Forecast Growth

BEPC has been the topic of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $38.00 price objective on shares of Brookfield Renewable in a research report on Tuesday, July 21st. Weiss Ratings lowered shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Finally, Barclays raised their target price on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $39.67.

Brookfield Renewable Stock Down 0.2%

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’s fifty day moving average is $36.62 and its two-hundred day moving average is $39.08.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, May 29th were given a $0.392 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Friday, May 29th.

Hedge Funds Weigh In On Brookfield Renewable

Hedge funds have recently made changes to their positions in the business. Motiv8 Investments LLC bought a new stake in Brookfield Renewable during the 4th quarter valued at approximately $25,000. Torren Management LLC bought a new position in Brookfield Renewable in the 4th quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Brookfield Renewable in the 4th quarter worth approximately $27,000. Allied Private Wealth LLC purchased a new stake in Brookfield Renewable during the 2nd quarter valued at approximately $27,000. Finally, SHP Wealth Management purchased a new stake in Brookfield Renewable during the 4th quarter valued at approximately $30,000. 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.