Brokerages Set Brookfield Renewable Corporation (NYSE:BEPC) PT at $40.00

Shares of Brookfield Renewable Corporation (NYSE:BEPC) have been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $40.00.

A number of equities research analysts have weighed in on BEPC shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research note on Saturday, November 8th. Morgan Stanley upped their target price on shares of Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Finally, Barclays raised their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd.

Hedge Funds Weigh In On Brookfield Renewable

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Motiv8 Investments LLC purchased a new position in Brookfield Renewable during the 4th quarter worth $25,000. Torren Management LLC purchased a new stake in shares of Brookfield Renewable in the fourth quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Brookfield Renewable during the fourth quarter worth about $27,000. Curio Wealth LLC raised its holdings in Brookfield Renewable by 95,300.0% during the second quarter. Curio Wealth LLC now owns 954 shares of the company’s stock worth $31,000 after purchasing an additional 953 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its position in Brookfield Renewable by 102.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock valued at $31,000 after purchasing an additional 405 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Trading Up 0.9%

NYSE BEPC opened at $42.83 on Monday. The firm’s fifty day moving average price is $40.11 and its 200 day moving average price is $38.59. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.39. Brookfield Renewable has a 12 month low of $23.73 and a 12 month high of $45.18. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of -48.13 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be issued a $0.392 dividend. The ex-dividend date of this dividend is Friday, February 27th. This is an increase from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a dividend yield of 3.7%. Brookfield Renewable’s dividend payout ratio is presently -167.42%.

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.