Brookfield Renewable (NYSE:BEPC) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Brookfield Renewable (NYSE:BEPC) from a sell rating to a hold rating in a research report released on Saturday morning.

BEPC has been the topic of several other research reports. Morgan Stanley lifted their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Barclays increased their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.00.

Brookfield Renewable Stock Performance

Shares of BEPC opened at $40.19 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.26 and a quick ratio of 0.39. The firm’s 50 day moving average is $40.87 and its 200-day moving average is $39.16. Brookfield Renewable has a 12-month low of $23.73 and a 12-month high of $45.18. The stock has a market capitalization of $5.82 billion, a P/E ratio of -45.16 and a beta of 1.24.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be given a dividend of $0.392 per share. This represents a $1.57 annualized dividend and a yield of 3.9%. The ex-dividend date is Friday, February 27th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37. Brookfield Renewable’s dividend payout ratio is presently -176.40%.

Institutional Trading of Brookfield Renewable

A number of hedge funds have recently modified their holdings of BEPC. Quantbot Technologies LP boosted its stake in shares of Brookfield Renewable by 728.3% during the 3rd quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock valued at $4,491,000 after buying an additional 114,722 shares during the period. Vanguard Group Inc. grew its holdings in shares of Brookfield Renewable by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock valued at $206,717,000 after acquiring an additional 151,186 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Brookfield Renewable by 9.6% in the third quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock worth $18,348,000 after acquiring an additional 46,796 shares during the last quarter. Atria Investments Inc acquired a new position in shares of Brookfield Renewable in the second quarter worth $316,000. Finally, SG Americas Securities LLC raised its holdings in shares of Brookfield Renewable by 699.1% during the third quarter. SG Americas Securities LLC now owns 221,279 shares of the company’s stock worth $7,616,000 after acquiring an additional 193,588 shares in the last quarter. Hedge funds and other 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.