Shares of Brookfield Renewable Corporation (NYSE:BEPC – Get Free Report) saw unusually-high 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.
Analyst Upgrades and Downgrades
BEPC has been the topic of several research reports. Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Barclays raised their price objective on Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $38.00 target price on shares of Brookfield Renewable in a research report on Tuesday. Finally, Weiss Ratings downgraded 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $39.67.
Check Out Our Latest Report on Brookfield Renewable
Brookfield Renewable Stock Performance
Brookfield Renewable Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were paid a $0.392 dividend. This represents a $1.57 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th.
Hedge Funds Weigh In On Brookfield Renewable
Several institutional investors and hedge funds have recently bought and sold shares of the business. Motiv8 Investments LLC acquired a new position in shares of Brookfield Renewable in the 4th quarter valued at about $25,000. Torren Management LLC acquired a new stake in shares of Brookfield Renewable during the fourth quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Brookfield Renewable during the fourth quarter valued at approximately $27,000. Allied Private Wealth LLC purchased a new position in Brookfield Renewable during the second quarter valued at approximately $27,000. Finally, SHP Wealth Management acquired a new position in Brookfield Renewable in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.
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.
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