Wall Street Zen Upgrades Brookfield Renewable (NYSE:BEPC) to Hold

Brookfield Renewable (NYSE:BEPC) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other brokerages have also recently weighed in on BEPC. Barclays upped their price target on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Finally, Morgan Stanley boosted their price objective on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $40.00.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $40.19 on Friday. Brookfield Renewable has a 1-year low of $23.73 and a 1-year high of $45.18. The company has a 50-day moving average of $40.87 and a 200 day moving average of $39.20. The firm has a market cap of $5.82 billion, a PE ratio of -45.16 and a beta of 1.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.26 and a quick ratio of 0.26.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC raised its stake in shares of Brookfield Renewable by 103.3% during the 4th quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock worth $353,183,000 after acquiring an additional 4,681,203 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Brookfield Renewable in the third quarter valued at approximately $98,293,000. Norges Bank purchased a new position in Brookfield Renewable in the second quarter worth $58,250,000. UBS Group AG increased its position in shares of Brookfield Renewable by 225.2% during the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company’s stock worth $69,095,000 after purchasing an additional 1,247,953 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Brookfield Renewable by 49.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after purchasing an additional 985,442 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 (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.