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

Brookfield Renewable Corporation (NYSE:BEPC) has been assigned an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $40.00.

A number of brokerages have issued reports on BEPC. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Barclays boosted their price target on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley raised their price objective on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th.

Brookfield Renewable Stock Performance

BEPC stock opened at $39.76 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.21. The firm has a market cap of $5.76 billion, a PE ratio of -44.67 and a beta of 1.23. The business has a 50 day moving average of $39.53 and a 200-day moving average of $37.62. Brookfield Renewable has a 12-month low of $23.73 and a 12-month high of $45.10.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, November 28th were given a $0.373 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, November 28th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Atria Investments Inc purchased a new position in shares of Brookfield Renewable in the second quarter worth about $316,000. SG Americas Securities LLC lifted its stake in shares of Brookfield Renewable by 699.1% during the 3rd quarter. SG Americas Securities LLC now owns 221,279 shares of the company’s stock valued at $7,616,000 after buying an additional 193,588 shares in the last quarter. Legal & General Group Plc boosted its holdings in Brookfield Renewable by 10.8% in the 2nd quarter. Legal & General Group Plc now owns 3,827,746 shares of the company’s stock worth $125,179,000 after buying an additional 373,517 shares during the period. ASR Vermogensbeheer N.V. grew its stake in Brookfield Renewable by 6.8% in the 3rd quarter. ASR Vermogensbeheer N.V. now owns 912,198 shares of the company’s stock valued at $31,389,000 after buying an additional 57,711 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in Brookfield Renewable in the 2nd quarter valued at approximately $210,000. Institutional investors 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.