JPMorgan Chase & Co. Reaffirms “Neutral” Rating for Brookfield Renewable (NYSE:BEPC)

Brookfield Renewable (NYSE:BEPC)‘s stock had its “neutral” rating restated by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $38.00 target price on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 16.44% from the company’s current price.

BEPC has been the topic of a number of other research reports. Morgan Stanley reaffirmed 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. Weiss Ratings lowered Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Finally, Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $39.67.

Brookfield Renewable Trading Down 4.5%

BEPC opened at $32.63 on Tuesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.33 and a current ratio of 0.33. Brookfield Renewable has a 12 month low of $32.21 and a 12 month high of $45.18. The company has a fifty day simple moving average of $36.88 and a 200 day simple moving average of $39.26.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Motiv8 Investments LLC acquired a new stake in shares of Brookfield Renewable in the 4th quarter valued at approximately $25,000. Torren Management LLC acquired a new position in Brookfield Renewable during the fourth quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Brookfield Renewable during the fourth quarter worth $27,000. Allied Private Wealth LLC bought a new stake in Brookfield Renewable during the second quarter worth $27,000. Finally, SHP Wealth Management acquired a new stake in Brookfield Renewable in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

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.