Brookfield Renewable (NYSE:BEPC) Stock Price Up 8.6% – Should You Buy?

Brookfield Renewable Co. (NYSE:BEPC) shares were up 8.6% during trading on Wednesday . The stock traded as high as $32.56 and last traded at $32.41. Approximately 748,398 shares were traded during trading, a decline of 20% from the average daily volume of 938,651 shares. The stock had previously closed at $29.85.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their target price on shares of Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Thursday.

Brookfield Renewable Trading Up 2.3 %

The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -70.59 and a beta of 1.19. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50-day moving average of $29.72 and a 200-day moving average of $28.76.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.51 billion. Research analysts anticipate that Brookfield Renewable Co. will post -1.02 EPS for the current year.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -308.70%.

Institutional Investors Weigh In On Brookfield Renewable

Several hedge funds have recently bought and sold shares of the company. Hexagon Capital Partners LLC raised its stake in Brookfield Renewable by 468.4% in the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock valued at $25,000 after buying an additional 623 shares during the period. Gulf International Bank UK Ltd increased its holdings in shares of Brookfield Renewable by 161.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock worth $29,000 after acquiring an additional 740 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Brookfield Renewable by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after acquiring an additional 592 shares during the last quarter. Beach Investment Counsel Inc. PA acquired a new stake in Brookfield Renewable during the 2nd quarter valued at $46,000. Finally, UniSuper Management Pty Ltd lifted its holdings in Brookfield Renewable by 111.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock valued at $47,000 after purchasing an additional 1,000 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.