Brookfield Renewable Corporation (NYSE:BEPC) Receives $39.75 Consensus Price Target from Analysts

Shares of Brookfield Renewable Corporation (NYSE:BEPC) have received an average rating of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $39.75.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. MAI Capital Management increased its stake in Brookfield Renewable by 59.0% during the first quarter. MAI Capital Management now owns 951 shares of the company’s stock worth $27,000 after acquiring an additional 353 shares during the last quarter. Monetary Management Group Inc. purchased a new position in shares of Brookfield Renewable during the 1st quarter worth $28,000. Curio Wealth LLC increased its position in shares of Brookfield Renewable by 95,300.0% during the 2nd quarter. Curio Wealth LLC now owns 954 shares of the company’s stock worth $31,000 after purchasing an additional 953 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Brookfield Renewable by 191.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 997 shares of the company’s stock worth $35,000 after purchasing an additional 655 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Brookfield Renewable by 88.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company’s stock valued at $38,000 after buying an additional 543 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Down 1.0%

Shares of Brookfield Renewable stock opened at $39.68 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.39 and a quick ratio of 0.39. The stock’s 50 day simple moving average is $40.56 and its 200-day simple moving average is $35.73. The stock has a market cap of $5.75 billion, a P/E ratio of -44.58 and a beta of 1.23. Brookfield Renewable has a 1-year low of $23.73 and a 1-year high of $45.10.

Brookfield Renewable Dividend Announcement

The company 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 dividend of $0.373 per share. This represents a $1.49 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, November 28th. Brookfield Renewable’s payout ratio is presently -167.42%.

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.