Brookfield Renewable (NYSE:BEPC) Sees Strong Trading Volume – Should You Buy?

Shares of Brookfield Renewable Corporation (NYSE:BEPC) saw unusually-strong trading volume on Wednesday . Approximately 1,358,909 shares changed hands during trading, an increase of 2% from the previous session’s volume of 1,334,326 shares.The stock last traded at $32.89 and had previously closed at $34.17.

Analysts Set New Price Targets

BEPC has been the topic of a number of analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $38.00 target price on shares of Brookfield Renewable in a research note on Tuesday. Weiss Ratings lowered Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Barclays raised their price target on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $39.67.

Brookfield Renewable Price Performance

The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a fifty day simple moving average of $36.82 and a two-hundred day simple moving average of $39.22.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were issued a $0.392 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.7%.

Institutional Investors Weigh In On Brookfield Renewable

Several large investors have recently bought and sold shares of BEPC. Swiss Life Asset Management Ltd grew its position in shares of Brookfield Renewable by 1.5% during the 4th quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock worth $656,000 after buying an additional 246 shares in the last quarter. Syon Capital LLC raised its holdings in shares of Brookfield Renewable by 2.7% in the fourth quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock valued at $359,000 after acquiring an additional 247 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Brookfield Renewable by 1.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock valued at $721,000 after acquiring an additional 284 shares in the last quarter. Curio Wealth LLC lifted its stake in Brookfield Renewable by 30.4% in the fourth quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock worth $49,000 after acquiring an additional 290 shares during the period. Finally, Diversify Advisory Services LLC lifted its stake in Brookfield Renewable by 0.9% in the fourth quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock worth $1,429,000 after acquiring an additional 310 shares during the period. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Company Profile

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.