Brookfield Renewable (NYSE:BEPC) Shares Up 6.4% – Time to Buy?

Brookfield Renewable Co. (NYSE:BEPC)’s share price shot up 6.4% during trading on Monday . The stock traded as high as $31.38 and last traded at $31.50. 173,405 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 951,201 shares. The stock had previously closed at $29.61.

Analyst Ratings Changes

Several analysts have weighed in on BEPC shares. Wells Fargo & Company dropped their target price on shares of Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Barclays assumed coverage on shares of Brookfield Renewable in a research note on Wednesday, April 2nd. They set an “equal weight” rating and a $31.00 price objective for the company.

Brookfield Renewable Stock Performance

The company has a quick ratio of 0.51, a current ratio of 0.27 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $4.68 billion, a PE ratio of -36.30 and a beta of 1.14. The firm has a 50 day moving average price of $28.28 and a 200-day moving average price of $28.18.

Brookfield Renewable Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 30th will be given a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, May 30th. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

Institutional Trading of Brookfield Renewable

Several large investors have recently made changes to their positions in the business. MAI Capital Management lifted its position in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company’s stock valued at $27,000 after purchasing an additional 353 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Brookfield Renewable by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 59,410 shares of the company’s stock valued at $1,643,000 after buying an additional 370 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Brookfield Renewable by 43.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock worth $35,000 after buying an additional 374 shares during the last quarter. Comprehensive Money Management Services LLC grew its holdings in Brookfield Renewable by 3.3% during the first quarter. Comprehensive Money Management Services LLC now owns 14,095 shares of the company’s stock worth $394,000 after acquiring an additional 445 shares during the period. Finally, CWM LLC raised its position in Brookfield Renewable by 14.6% during the first quarter. CWM LLC now owns 4,058 shares of the company’s stock valued at $113,000 after acquiring an additional 516 shares in the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Renewable

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.