JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Brookfield Renewable (NYSE:BEPC) Stock

Brookfield Renewable (NYSE:BEPC) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $41.00 to $44.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 10.26% from the company’s previous close.

Several other analysts also recently commented on the stock. Morgan Stanley increased their target price on shares of Brookfield Renewable from $38.00 to $39.00 and gave the company an “overweight” rating in a report on Tuesday, August 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Brookfield Renewable in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable has a consensus rating of “Hold” and a consensus price target of $36.50.

Brookfield Renewable Stock Performance

BEPC opened at $39.91 on Thursday. The company’s fifty day moving average price is $35.00 and its two-hundred day moving average price is $32.28. The company has a market cap of $5.78 billion, a price-to-earnings ratio of -44.84 and a beta of 1.21. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19. Brookfield Renewable has a 1-year low of $23.73 and a 1-year high of $41.73.

Institutional Trading of Brookfield Renewable

A number of large investors have recently added to or reduced their stakes in BEPC. GAMMA Investing LLC purchased a new stake in Brookfield Renewable during the first quarter worth about $81,000. SG Americas Securities LLC purchased a new stake in Brookfield Renewable during the first quarter worth about $789,000. Janney Montgomery Scott LLC purchased a new stake in Brookfield Renewable during the first quarter worth about $532,000. Abundance Wealth Counselors increased its holdings in Brookfield Renewable by 6.5% during the first quarter. Abundance Wealth Counselors now owns 56,766 shares of the company’s stock worth $1,585,000 after buying an additional 3,449 shares during the last quarter. Finally, Spirit of America Management Corp NY increased its holdings in Brookfield Renewable by 93.0% during the first quarter. Spirit of America Management Corp NY now owns 4,150 shares of the company’s stock worth $116,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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.