Brookfield Renewable (NYSE:BEPC) Stock Rating Lowered by Wall Street Zen

Brookfield Renewable (NYSE:BEPC) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also recently issued reports on BEPC. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Morgan Stanley reiterated an “underweight” rating and issued a $42.00 target price (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 23rd. Finally, Barclays increased 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, January 23rd. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $38.50.

Brookfield Renewable Stock Performance

Shares of BEPC stock opened at $39.38 on Friday. The business has a fifty day moving average of $41.21 and a 200 day moving average of $39.87. Brookfield Renewable has a 1 year low of $23.73 and a 1 year high of $45.18. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a market capitalization of $5.73 billion, a price-to-earnings ratio of -44.25 and a beta of 1.24.

Hedge Funds Weigh In On Brookfield Renewable

Several institutional investors and hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC grew its holdings in Brookfield Renewable by 103.3% during the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock worth $353,183,000 after acquiring an additional 4,681,203 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Brookfield Renewable in the third quarter valued at approximately $98,293,000. Norges Bank acquired a new position in Brookfield Renewable in the second quarter valued at approximately $58,250,000. UBS Group AG boosted its position in Brookfield Renewable by 225.2% in the 4th quarter. UBS Group AG now owns 1,802,162 shares of the company’s stock worth $69,095,000 after purchasing an additional 1,247,953 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Brookfield Renewable by 49.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after purchasing an additional 985,442 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

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.