Brookfield Renewable (NYSE:BEPC) Reaches New 1-Year High – Should You Buy?

Brookfield Renewable Corporation (NYSE:BEPC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $45.18 and last traded at $44.9550, with a volume of 679231 shares changing hands. The stock had previously closed at $43.84.

Analysts Set New Price Targets

BEPC has been the topic of several recent analyst reports. Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Barclays increased their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Finally, Morgan Stanley increased their target price on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $40.00.

Brookfield Renewable Stock Up 1.3%

The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of -49.89 and a beta of 1.22. The firm’s 50 day moving average price is $39.79 and its two-hundred day moving average price is $38.34. The company has a current ratio of 0.13, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21.

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, February 27th. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s payout ratio is presently -167.42%.

Hedge Funds Weigh In On Brookfield Renewable

Institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC bought a new stake in shares of Brookfield Renewable during the 1st quarter worth about $756,000. Integrated Wealth Concepts LLC acquired a new position in shares of Brookfield Renewable in the first quarter valued at approximately $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of 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 purchasing an additional 34,799 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Brookfield Renewable by 32.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company’s stock worth $17,995,000 after purchasing an additional 158,771 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 valued at $6,310,000 after purchasing an additional 4,768 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.