Brookfield Renewable Corporation (NYSE:BEPC) Receives $39.75 Average Target Price from Analysts

Brookfield Renewable Corporation (NYSE:BEPC) has been assigned an average recommendation of “Reduce” from the four brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $42.3333.

BEPC has been the topic of several analyst reports. Weiss Ratings lowered Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday. Barclays lifted their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Morgan Stanley reissued an “underweight” rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, JPMorgan Chase & Co. raised their price objective on Brookfield Renewable from $48.00 to $49.00 and gave the stock an “overweight” rating in a research report on Thursday, April 16th.

Brookfield Renewable Trading Down 1.2%

NYSE BEPC opened at $36.71 on Friday. Brookfield Renewable has a 52 week low of $27.72 and a 52 week high of $45.18. The company has a current ratio of 0.33, a quick ratio of 0.26 and a debt-to-equity ratio of 1.81. The business’s fifty day simple moving average is $40.60 and its 200-day simple moving average is $40.69.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 29th will be given a dividend of $0.392 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, May 29th.

Institutional Trading of Brookfield Renewable

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Clearbridge Investments LLC increased its position 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 purchasing an additional 4,681,203 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Brookfield Renewable by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company’s stock worth $233,817,000 after purchasing an additional 90,863 shares during the last quarter. Parnassus Investments LLC increased its position in shares of Brookfield Renewable by 1.4% during the 3rd quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company’s stock worth $183,721,000 after purchasing an additional 74,543 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Brookfield Renewable by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company’s stock worth $159,935,000 after purchasing an additional 121,328 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Brookfield Renewable by 5.5% during the 4th quarter. Legal & General Group Plc now owns 4,160,715 shares of the company’s stock worth $159,809,000 after purchasing an additional 215,911 shares during the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

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.