Brookfield Renewable (NYSE:BEPC) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Brookfield Renewable (NYSE:BEPC) from a hold rating to a sell rating in a research report sent to investors on Sunday.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Friday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, August 3rd. Finally, Barclays upped their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $39.00.

Brookfield Renewable Stock Down 0.1%

Shares of BEPC stock opened at $33.71 on Friday. The business has a 50-day moving average of $35.80 and a 200 day moving average of $38.77. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.40. Brookfield Renewable has a 1-year low of $31.82 and a 1-year high of $45.18.

Brookfield Renewable Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.392 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.57 annualized dividend and a yield of 4.7%.

Institutional Investors Weigh In On Brookfield Renewable

A number of large investors have recently modified their holdings of BEPC. Swiss Life Asset Management Ltd lifted its position in shares of Brookfield Renewable by 1.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 17,106 shares of the company’s stock worth $656,000 after purchasing an additional 246 shares during the last quarter. Syon Capital LLC boosted its stake in shares of Brookfield Renewable by 2.7% during the fourth quarter. Syon Capital LLC now owns 9,351 shares of the company’s stock valued at $359,000 after purchasing an additional 247 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Brookfield Renewable by 1.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 18,802 shares of the company’s stock worth $721,000 after purchasing an additional 284 shares during the last quarter. Curio Wealth LLC grew its holdings in shares of Brookfield Renewable by 30.4% in the fourth quarter. Curio Wealth LLC now owns 1,244 shares of the company’s stock worth $49,000 after purchasing an additional 290 shares during the last quarter. Finally, Diversify Advisory Services LLC increased its stake in Brookfield Renewable by 0.9% in the 4th quarter. Diversify Advisory Services LLC now owns 36,187 shares of the company’s stock worth $1,429,000 after buying an additional 310 shares during the period. 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.