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

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $38.00 target price on shares of Brookfield Renewable in a research note on Tuesday, July 21st. Barclays upped 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. Finally, Weiss Ratings downgraded shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $39.67.

Brookfield Renewable Price Performance

The stock has a 50 day moving average of $36.43 and a 200 day moving average of $39.00. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33.

Hedge Funds Weigh In On Brookfield Renewable

Several institutional investors and hedge funds have recently added to or reduced their stakes in BEPC. Clearbridge Investments LLC lifted its stake in shares of Brookfield Renewable by 103.3% in the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock worth $353,183,000 after acquiring an additional 4,681,203 shares during the period. Norges Bank bought a new stake in Brookfield Renewable in the fourth quarter valued at $68,132,000. UBS Group AG raised its stake in Brookfield Renewable by 225.2% during the 4th quarter. UBS Group AG now owns 1,802,162 shares of the company’s stock worth $69,095,000 after buying an additional 1,247,953 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Brookfield Renewable by 49.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after purchasing an additional 985,442 shares during the period. Finally, Gotham Asset Management LLC lifted its position in Brookfield Renewable by 128.4% in the 4th quarter. Gotham Asset Management LLC now owns 1,287,302 shares of the company’s stock valued at $49,355,000 after acquiring an additional 723,692 shares in the last quarter. 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.