Brookfield Renewable (NYSE:BEPC) Price Target Raised to $49.00

Brookfield Renewable (NYSE:BEPC) had its price target increased by JPMorgan Chase & Co. from $48.00 to $49.00 in a research report report published on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

BEPC has been the topic of several other research reports. Morgan Stanley reiterated an “underweight” rating and issued a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Wall Street Zen downgraded Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Barclays raised their price objective 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 report on Monday, December 29th. Two investment 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. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $39.75.

Brookfield Renewable Stock Performance

Brookfield Renewable stock opened at $42.83 on Thursday. The stock’s fifty day moving average price is $41.63 and its two-hundred day moving average price is $40.62. Brookfield Renewable has a one year low of $26.35 and a one year high of $45.18. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th were given a $0.392 dividend. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.57 annualized dividend and a dividend yield of 3.7%.

Institutional Trading of Brookfield Renewable

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Motiv8 Investments LLC bought a new stake in Brookfield Renewable in the 4th quarter valued at about $25,000. Torren Management LLC bought a new stake in Brookfield Renewable during the 4th quarter worth approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Brookfield Renewable during the 4th quarter worth approximately $27,000. SHP Wealth Management bought a new stake in Brookfield Renewable during the 4th quarter worth approximately $30,000. Finally, Princeton Global Asset Management LLC increased its holdings in Brookfield Renewable by 102.5% during the 4th quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after purchasing an additional 405 shares in the last quarter. 75.12% of the stock is owned by 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.