Brookfield Renewable (NYSE:BEPC) Price Target Raised to $48.00

Brookfield Renewable (NYSE:BEPC) had its price objective upped by research analysts at Morgan Stanley from $40.00 to $48.00 in a report released on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 18.70% from the company’s current price.

Other research analysts have also recently issued reports about the company. Barclays raised their price objective on Brookfield Renewable from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Wednesday. Finally, JPMorgan Chase & Co. boosted their price objective on Brookfield Renewable from $41.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.75.

Brookfield Renewable Trading Down 2.0%

NYSE:BEPC traded down $0.82 during trading hours on Monday, reaching $40.44. The company’s stock had a trading volume of 523,284 shares, compared to its average volume of 1,020,959. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of -45.39 and a beta of 1.29. The firm has a 50-day simple moving average of $39.27 and a 200-day simple moving average of $35.03. Brookfield Renewable has a 1 year low of $23.73 and a 1 year high of $45.10. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.39 and a current ratio of 0.39.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BEPC. Atria Investments Inc purchased a new stake in Brookfield Renewable in the second quarter worth about $316,000. Maryland State Retirement & Pension System bought a new position in shares of Brookfield Renewable in the 2nd quarter worth approximately $210,000. Raymond James Financial Inc. lifted its stake in shares of Brookfield Renewable by 23.2% in the 1st quarter. Raymond James Financial Inc. now owns 163,852 shares of the company’s stock valued at $4,575,000 after purchasing an additional 30,840 shares during the period. LPL Financial LLC lifted its stake in shares of Brookfield Renewable by 91.9% in the 1st quarter. LPL Financial LLC now owns 64,108 shares of the company’s stock valued at $1,790,000 after purchasing an additional 30,704 shares during the period. Finally, Foresight Group Ltd Liability Partnership bought a new stake in shares of Brookfield Renewable during the first quarter valued at approximately $6,338,000. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Company Profile

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.