Brookfield Renewable Corporation (NYSE:BEPC) Given Average Rating of “Hold” by Brokerages

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

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

Institutional Trading of Brookfield Renewable

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Brookfield Renewable by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock valued at $206,717,000 after buying an additional 151,186 shares in the last quarter. Parnassus Investments LLC lifted its position in shares of Brookfield Renewable by 1.4% in the third quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company’s stock valued at $183,721,000 after acquiring an additional 74,543 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Brookfield Renewable by 2.7% in the third quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company’s stock worth $159,935,000 after acquiring an additional 121,328 shares during the period. Legal & General Group Plc grew its position in shares of Brookfield Renewable by 3.1% during the third quarter. Legal & General Group Plc now owns 3,944,804 shares of the company’s stock worth $135,830,000 after purchasing an additional 117,058 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew 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. 75.12% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Price Performance

Shares of BEPC opened at $39.04 on Friday. The firm has a fifty day simple moving average of $40.83 and a two-hundred day simple moving average of $36.73. The firm has a market cap of $5.66 billion, a PE ratio of -43.87 and a beta of 1.23. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21. Brookfield Renewable has a 1-year low of $23.73 and a 1-year high of $45.10.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th will be issued a dividend of $0.373 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.49 annualized dividend and a yield of 3.8%. Brookfield Renewable’s payout ratio is currently -167.42%.

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.