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

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

Other research analysts have also recently issued reports about the company. Barclays raised their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Finally, Morgan Stanley reissued an “underweight” rating and set a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Two equities research 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 data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $38.50.

Brookfield Renewable Trading Down 0.1%

Shares of Brookfield Renewable stock opened at $39.38 on Friday. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -44.25 and a beta of 1.24. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.35. The firm’s 50 day simple moving average is $41.21 and its two-hundred day simple moving average is $39.79. Brookfield Renewable has a 12-month low of $23.73 and a 12-month high of $45.18.

Institutional Investors Weigh In On Brookfield Renewable

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP grew its position in Brookfield Renewable by 728.3% during the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock valued at $4,491,000 after buying an additional 114,722 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Brookfield Renewable in the third quarter worth about $1,342,000. Vanguard Group Inc. raised its position in shares of Brookfield Renewable by 2.6% in the third quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock worth $206,717,000 after acquiring an additional 151,186 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Brookfield Renewable by 9.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock worth $18,348,000 after acquiring an additional 46,796 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Brookfield Renewable by 699.1% during the third quarter. SG Americas Securities LLC now owns 221,279 shares of the company’s stock worth $7,616,000 after purchasing an additional 193,588 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

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.