Brookfield Renewable Corporation (NYSE:BEPC) Receives Average Rating of “Hold” from Brokerages

Brookfield Renewable Corporation (NYSE:BEPC) has received a consensus recommendation of “Hold” from the five brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $39.75.

Several equities research analysts have recently weighed in on BEPC shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. Barclays increased their price objective on shares of Brookfield Renewable from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their target price on Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Morgan Stanley upped their target price on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, November 24th.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $40.44 on Wednesday. The firm has a market capitalization of $5.86 billion, a PE ratio of -45.43 and a beta of 1.23. The stock’s fifty day moving average is $40.23 and its 200 day moving average is $35.61. Brookfield Renewable has a fifty-two week low of $23.73 and a fifty-two week high of $45.10. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.39.

Brookfield Renewable Announces Dividend

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

Institutional Trading of Brookfield Renewable

A number of large investors have recently made changes to their positions in BEPC. Swiss Life Asset Management Ltd increased its stake in Brookfield Renewable by 102.3% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 16,860 shares of the company’s stock worth $581,000 after buying an additional 8,525 shares during the period. Investment Research Partners LLC bought a new position in Brookfield Renewable in the 3rd quarter worth about $1,227,000. CIBC Bancorp USA Inc. purchased a new position in shares of Brookfield Renewable during the third quarter worth approximately $98,293,000. Captrust Financial Advisors increased its position in shares of Brookfield Renewable by 1.4% during the third quarter. Captrust Financial Advisors now owns 44,554 shares of the company’s stock worth $1,534,000 after acquiring an additional 612 shares during the period. Finally, Voleon Capital Management LP bought a new stake in shares of Brookfield Renewable during the third quarter valued at approximately $572,000. 75.12% of the stock is owned by hedge funds and other institutional investors.

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.