Brookfield Renewable (NYSE:BEPC) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Brookfield Renewable Corporation (NYSE:BEPC)’s stock price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $29.95 and traded as high as $30.75. Brookfield Renewable shares last traded at $30.5160, with a volume of 3,078,314 shares traded.

Analyst Upgrades and Downgrades

BEPC has been the topic of a number of research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield Renewable from $36.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, October 19th. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Barclays lifted their target price on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Finally, Morgan Stanley cut their price objective on shares of Brookfield Renewable from $42.00 to $37.00 and set an “underweight” rating for the company in a research report on Tuesday, October 13th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $36.00.

Brookfield Renewable Stock Performance

The stock’s fifty day moving average price is $29.95 and its 200 day moving average price is $36.34. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.10.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BEPC. Baird Financial Group Inc. grew its holdings in shares of Brookfield Renewable by 11.4% during the 2nd quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company’s stock valued at $123,800,000 after purchasing an additional 340,103 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Brookfield Renewable during the 1st quarter valued at about $10,264,000. Walleye Capital LLC boosted its holdings in Brookfield Renewable by 309.4% during the 1st quarter. Walleye Capital LLC now owns 300,983 shares of the company’s stock valued at $11,988,000 after acquiring an additional 227,465 shares during the period. Quantinno Capital Management LP increased its stake in Brookfield Renewable by 134.8% in the 1st quarter. Quantinno Capital Management LP now owns 176,687 shares of the company’s stock worth $7,037,000 after purchasing an additional 101,422 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Brookfield Renewable by 27.0% during the first quarter. Swiss National Bank now owns 463,350 shares of the company’s stock valued at $18,439,000 after purchasing an additional 98,600 shares during the period. 75.12% of the stock is owned by hedge funds and other institutional investors.

About Brookfield Renewable

Brookfield Renewable Corporation (NYSE: BEPC) is a renewable power and sustainable solutions company that provides investors with an interest in the Brookfield Renewable platform. The company owns and operates a diversified portfolio of renewable energy assets and is part of Brookfield Asset Management’s global renewable power business.

Its activities include the development, ownership and operation of hydroelectric, wind, solar and distributed energy facilities, as well as energy storage and other renewable power infrastructure.