Brookfield Renewable (NYSE:BEPC) Rating Lowered to Sell at Wall Street Zen

Brookfield Renewable (NYSE:BEPC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other research analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Barclays upped their price objective on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, Morgan Stanley reiterated an “underweight” rating and set a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a report on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.50.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $39.38 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.26 and a quick ratio of 0.26. Brookfield Renewable has a 1 year low of $23.73 and a 1 year high of $45.18. The stock’s 50 day simple moving average is $41.21 and its two-hundred day simple moving average is $39.79. The company has a market cap of $5.73 billion, a price-to-earnings ratio of -44.25 and a beta of 1.24.

Institutional Investors Weigh In On Brookfield Renewable

A number of hedge funds have recently made changes to their positions in BEPC. Swiss Life Asset Management Ltd grew its stake in Brookfield Renewable by 1.5% in the fourth quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock valued at $656,000 after purchasing an additional 246 shares during the last quarter. Syon Capital LLC lifted its position in shares of Brookfield Renewable by 2.7% during the fourth quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock valued at $359,000 after buying an additional 247 shares during the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Brookfield Renewable by 1.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock valued at $721,000 after buying an additional 284 shares in the last quarter. Curio Wealth LLC boosted its holdings in shares of Brookfield Renewable by 30.4% in the 4th quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock valued at $49,000 after buying an additional 290 shares in the last quarter. Finally, Diversify Advisory Services LLC grew its position in shares of Brookfield Renewable by 0.9% in the 4th quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock worth $1,429,000 after buying an additional 310 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

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.