Brookfield Renewable (NYSE:BEPC) Given New $49.00 Price Target at JPMorgan Chase & Co.

Brookfield Renewable (NYSE:BEPC) had its price target raised by JPMorgan Chase & Co. from $48.00 to $49.00 in a research note published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

BEPC has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Wall Street Zen cut shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Morgan Stanley reaffirmed an “underweight” rating and issued a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. Finally, Barclays lifted their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.75.

Brookfield Renewable Stock Performance

Shares of BEPC stock opened at $43.63 on Thursday. The stock’s 50-day moving average is $41.61 and its two-hundred day moving average is $40.52. Brookfield Renewable has a 1 year low of $26.35 and a 1 year high of $45.18. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.35.

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were issued a $0.392 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, February 27th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37.

Hedge Funds Weigh In On Brookfield Renewable

A number of hedge funds and other institutional investors have recently bought and sold shares of BEPC. AQR Capital Management LLC purchased a new position in Brookfield Renewable in the 1st quarter valued at $756,000. Integrated Wealth Concepts LLC purchased a new position in Brookfield Renewable in the 1st quarter valued at $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Brookfield Renewable by 115.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company’s stock valued at $1,813,000 after buying an additional 34,799 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Brookfield Renewable by 32.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company’s stock valued at $17,995,000 after buying an additional 158,771 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Brookfield Renewable by 2.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company’s stock valued at $6,310,000 after buying an additional 4,768 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

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.