Brookfield Renewable (NYSE:BEPC) Stock Price Down 8.6% – Here’s What Happened

Brookfield Renewable Co. (NYSE:BEPC) shares fell 8.6% on Wednesday . The company traded as low as $28.68 and last traded at $29.10. 758,914 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 961,877 shares. The stock had previously closed at $31.85.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. dropped their price target on Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Thursday, October 17th.

Brookfield Renewable Trading Down 7.2 %

The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of -44.91 and a beta of 1.20. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a fifty day moving average price of $30.83 and a 200-day moving average price of $29.67.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were given a $0.355 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 annualized dividend and a yield of 4.81%. Brookfield Renewable’s dividend payout ratio is presently -221.87%.

Hedge Funds Weigh In On Brookfield Renewable

A number of hedge funds have recently made changes to their positions in BEPC. Hexagon Capital Partners LLC raised its position in shares of Brookfield Renewable by 468.4% during the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after acquiring an additional 623 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in Brookfield Renewable by 49.7% in the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after purchasing an additional 592 shares in the last quarter. Beach Investment Counsel Inc. PA bought a new stake in Brookfield Renewable in the second quarter worth approximately $46,000. UniSuper Management Pty Ltd increased its holdings in Brookfield Renewable by 111.1% in the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after purchasing an additional 1,567 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Company Profile

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.