Brookfield Renewable Corporation (NYSE:BEPC) Receives Average Recommendation of “Hold” from Analysts

Shares of Brookfield Renewable Corporation (NYSE:BEPC) have been given a consensus rating of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. One 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 target among brokers that have updated their coverage on the stock in the last year is $39.75.

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

Institutional Investors Weigh In On Brookfield Renewable

A number of institutional investors have recently added to or reduced their stakes in BEPC. Modern Wealth Management LLC increased its position in shares of Brookfield Renewable by 2.3% during the second quarter. Modern Wealth Management LLC now owns 14,856 shares of the company’s stock valued at $487,000 after acquiring an additional 327 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Brookfield Renewable by 0.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 130,474 shares of the company’s stock worth $4,277,000 after purchasing an additional 350 shares during the period. MAI Capital Management boosted its position in shares of Brookfield Renewable by 59.0% during the 1st quarter. MAI Capital Management now owns 951 shares of the company’s stock worth $27,000 after purchasing an additional 353 shares during the period. Gilbert & Cook Inc. increased its holdings in Brookfield Renewable by 4.3% in the 2nd quarter. Gilbert & Cook Inc. now owns 8,594 shares of the company’s stock valued at $282,000 after purchasing an additional 357 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in Brookfield Renewable by 0.6% in the second quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company’s stock valued at $2,068,000 after purchasing an additional 368 shares during the period. Institutional investors own 75.12% of the company’s stock.

Brookfield Renewable Stock Performance

Shares of Brookfield Renewable stock opened at $40.44 on Wednesday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21. The stock’s fifty day moving average price is $40.23 and its 200-day moving average price is $35.61. The firm has a market cap of $5.86 billion, a P/E ratio of -45.43 and a beta of 1.23. Brookfield Renewable has a 12 month low of $23.73 and a 12 month high of $45.10.

Brookfield Renewable Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, November 28th will be given a $0.373 dividend. This represents a $1.49 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable’s payout ratio is presently -167.42%.

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.