Brookfield Renewable’s (BEPC) “Underweight” Rating Reiterated at Morgan Stanley

Morgan Stanley restated their underweight rating on shares of Brookfield Renewable (NYSE:BEPC) in a research report sent to investors on Monday morning, MarketBeat reports. The brokerage currently has a $42.00 target price on the stock, down from their previous target price of $48.00.

A number of other equities analysts also recently commented on BEPC. Wall Street Zen raised shares of Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Barclays increased their price target on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.50.

Brookfield Renewable Trading Up 1.2%

NYSE BEPC opened at $39.81 on Monday. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of -44.73 and a beta of 1.24. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26. Brookfield Renewable has a one year low of $23.73 and a one year high of $45.18. The company’s 50 day moving average price is $41.20 and its 200 day moving average price is $39.75.

Brookfield Renewable Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be paid a dividend of $0.392 per share. 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 3.9%. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s payout ratio is -176.40%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BEPC. AQR Capital Management LLC acquired a new stake in Brookfield Renewable during the 1st quarter valued at $756,000. Integrated Wealth Concepts LLC acquired a new position in Brookfield Renewable in the 1st quarter worth $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Brookfield Renewable by 115.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company’s stock worth $1,813,000 after buying an additional 34,799 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Brookfield Renewable by 32.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 644,505 shares of the company’s stock valued at $17,995,000 after buying an additional 158,771 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Brookfield Renewable by 2.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 226,020 shares of the company’s stock valued at $6,310,000 after buying an additional 4,768 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

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.