Brookfield Renewable (NYSE:BEPC) Given Underweight Rating at Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of Brookfield Renewable (NYSE:BEPC) in a research note issued to investors on Monday morning, MarketBeat Ratings reports. They currently have a $42.00 target price on the stock, down from their prior target price of $48.00.

BEPC has been the subject of a number of other research reports. Barclays upped their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Wall Street Zen upgraded Brookfield Renewable from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.50.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC opened at $38.42 on Monday. The company’s fifty day moving average price is $41.17 and its 200 day moving average price is $39.71. Brookfield Renewable has a 1 year low of $23.73 and a 1 year high of $45.18. The company has a market capitalization of $5.59 billion, a PE ratio of -43.17 and a beta of 1.24. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26.

Brookfield Renewable Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.392 per share. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. This represents a $1.57 annualized dividend and a dividend yield of 4.1%. Brookfield Renewable’s payout ratio is currently -175.28%.

Institutional Investors Weigh In On Brookfield Renewable

Several institutional investors have recently bought and sold shares of BEPC. Clearbridge Investments LLC lifted its position in shares of Brookfield Renewable by 103.3% in the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock valued at $353,183,000 after acquiring an additional 4,681,203 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Brookfield Renewable by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company’s stock worth $233,817,000 after purchasing an additional 90,863 shares in the last quarter. Parnassus Investments LLC increased its position in shares of Brookfield Renewable by 1.4% during the third quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company’s stock worth $183,721,000 after purchasing an additional 74,543 shares in the last quarter. Principal Financial Group Inc. raised its stake in Brookfield Renewable by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company’s stock valued at $159,935,000 after purchasing an additional 121,328 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Brookfield Renewable by 5.5% in the 4th quarter. Legal & General Group Plc now owns 4,160,715 shares of the company’s stock valued at $159,809,000 after purchasing an additional 215,911 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Company Profile

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.