Morgan Stanley Issues Positive Forecast for Brookfield Renewable (NYSE:BEPC) Stock Price

Brookfield Renewable (NYSE:BEPC) had its price objective increased by Morgan Stanley from $40.00 to $48.00 in a research report sent to investors on Monday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

BEPC has been the topic of a number of other research reports. Barclays upped their target price on shares of Brookfield Renewable from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Wednesday, November 19th. Finally, Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $39.75.

Brookfield Renewable Trading Down 1.4%

Shares of BEPC opened at $40.70 on Monday. Brookfield Renewable has a twelve month low of $23.73 and a twelve month high of $45.10. The stock has a market cap of $5.90 billion, a PE ratio of -45.73 and a beta of 1.29. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.21. The business’s 50-day moving average price is $39.40 and its 200-day moving average price is $35.12.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be paid a dividend of $0.373 per share. This represents a $1.49 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Institutional Investors Weigh In On Brookfield Renewable

Institutional investors have recently bought and sold shares of the stock. Modern Wealth Management LLC boosted its stake in shares of Brookfield Renewable by 2.3% during the 2nd quarter. Modern Wealth Management LLC now owns 14,856 shares of the company’s stock valued at $487,000 after purchasing an additional 327 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Brookfield Renewable by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 130,474 shares of the company’s stock worth $4,277,000 after buying an additional 350 shares in the last quarter. MAI Capital Management lifted its holdings in Brookfield Renewable by 59.0% in the first quarter. MAI Capital Management now owns 951 shares of the company’s stock worth $27,000 after buying an additional 353 shares during the period. Gilbert & Cook Inc. boosted its position in Brookfield Renewable by 4.3% during the 2nd quarter. Gilbert & Cook Inc. now owns 8,594 shares of the company’s stock valued at $282,000 after acquiring an additional 357 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Brookfield Renewable by 0.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company’s stock worth $2,068,000 after acquiring an additional 368 shares during the period. 75.12% of the stock is currently owned by hedge funds and other 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.