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

Shares of Brookfield Renewable Co. (NYSE:BEPC) fell 8.6% on Wednesday . The company traded as low as $28.68 and last traded at $29.10. 758,914 shares were traded 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 Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered their target price on Brookfield Renewable from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Thursday, October 17th.

Brookfield Renewable Stock Down 7.2 %

The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.87. The stock has a 50 day simple moving average of $30.83 and a 200 day simple moving average of $29.67. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of -44.91 and a beta of 1.20.

Brookfield Renewable Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Hexagon Capital Partners LLC lifted its position in shares of Brookfield Renewable by 468.4% during the 3rd 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 last quarter. Beach Investment Counsel Inc. PA purchased a new position in shares of Brookfield Renewable during the 2nd quarter valued at $46,000. Abich Financial Wealth Management LLC lifted its position 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 valued at $44,000 after buying an additional 592 shares during the last quarter. 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 worth $47,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Brookfield Renewable by 250.7% during the 3rd 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. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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.