Brookfield Renewable (NYSE:BEPC) Stock Price Up 6.2% – Should You Buy?

Brookfield Renewable Corporation (NYSE:BEPC)’s share price rose 6.2% during trading on Friday . The company traded as high as $42.21 and last traded at $41.7540. Approximately 664,969 shares changed hands during trading, a decline of 27% from the average daily volume of 905,860 shares. The stock had previously closed at $39.32.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Morgan Stanley increased their price objective on shares of Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Finally, Barclays lifted 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 note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $40.00.

Brookfield Renewable Stock Up 5.8%

The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.39. The company’s fifty day moving average price is $39.36 and its 200-day moving average price is $37.85. The stock has a market cap of $6.03 billion, a P/E ratio of -46.74 and a beta of 1.23.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th were paid a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.6%. Brookfield Renewable’s dividend payout ratio is currently -167.42%.

Hedge Funds Weigh In On Brookfield Renewable

A number of large investors have recently bought and sold shares of the business. Diversify Advisory Services LLC increased 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 purchasing an additional 310 shares during the period. Modern Wealth Management LLC grew its holdings in shares of Brookfield Renewable by 2.3% in the second quarter. Modern Wealth Management LLC now owns 14,856 shares of the company’s stock worth $487,000 after purchasing an additional 327 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Brookfield Renewable by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 130,474 shares of the company’s stock worth $4,277,000 after buying an additional 350 shares during the period. Gilbert & Cook Inc. increased its stake in Brookfield Renewable by 4.3% in the 2nd quarter. Gilbert & Cook Inc. now owns 8,594 shares of the company’s stock worth $282,000 after buying an additional 357 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in Brookfield Renewable by 0.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company’s stock valued at $2,068,000 after buying an additional 368 shares in the last quarter. Hedge funds and other 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.