Brookfield Renewable (NYSE:BEPC) Hits New 52-Week Low – Time to Sell?

Brookfield Renewable Corporation (NYSE:BEPC) shares hit a new 52-week low during trading on Thursday . The company traded as low as $28.76 and last traded at $28.7750, with a volume of 62340 shares trading hands. The stock had previously closed at $29.22.

Analyst Upgrades and Downgrades

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

Brookfield Renewable Stock Performance

The company has a debt-to-equity ratio of 2.10, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a 50 day moving average price of $32.59 and a two-hundred day moving average price of $36.53.

Brookfield Renewable Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.392 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.57 annualized dividend and a yield of 5.5%.

Hedge Funds Weigh In On Brookfield Renewable

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allied Private Wealth LLC bought a new stake in shares of Brookfield Renewable in the 2nd quarter valued at about $27,000. SHP Wealth Management bought a new position in Brookfield Renewable during the 4th quarter worth approximately $30,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Brookfield Renewable during the second quarter valued at approximately $33,000. NewEdge Advisors LLC acquired a new position in Brookfield Renewable during the first quarter valued at approximately $33,000. Finally, Curio Wealth LLC grew its holdings in Brookfield Renewable by 30.4% during the fourth quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock valued at $49,000 after purchasing an additional 290 shares during the period. 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.