Brookfield Renewable (NYSE:BEPC) Sets New 52-Week Low – What’s Next?

Brookfield Renewable Corporation (NYSE:BEPC)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $30.91 and last traded at $30.9180, with a volume of 1998478 shares changing hands. The stock had previously closed at $31.59.

Wall Street Analysts Forecast Growth

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

Brookfield Renewable Price Performance

The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.40. The firm’s 50 day moving average is $33.50 and its 200-day moving average is $37.29.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.392 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a dividend yield of 5.1%.

Hedge Funds Weigh In On Brookfield Renewable

Institutional investors have recently added to or reduced their stakes in the stock. Motiv8 Investments LLC purchased a new stake in Brookfield Renewable in the 4th quarter valued at $25,000. Allied Private Wealth LLC purchased a new position in shares of Brookfield Renewable during the 2nd quarter worth $27,000. SHP Wealth Management acquired a new position in shares of Brookfield Renewable during the 4th quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Brookfield Renewable during the 2nd quarter valued at about $33,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Brookfield Renewable during the 1st quarter valued at about $33,000. Hedge funds and other institutional investors 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.