Brokerages Set Brookfield Renewable Corporation (NYSE:BEPC) Target Price at $40.00

Brookfield Renewable Corporation (NYSE:BEPC) has received a consensus recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.00.

Several equities research analysts recently issued reports on BEPC shares. Morgan Stanley lifted their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th. 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 reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $42.95 on Monday. Brookfield Renewable has a twelve month low of $23.73 and a twelve month high of $45.18. The company has a quick ratio of 0.39, a current ratio of 0.13 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $39.96 and its 200 day simple moving average is $38.44. The firm has a market capitalization of $6.22 billion, a PE ratio of -48.25 and a beta of 1.22.

Brookfield Renewable Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be issued a $0.392 dividend. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 27th. This represents a $1.57 dividend on an annualized basis and a yield of 3.7%. Brookfield Renewable’s dividend payout ratio (DPR) is -167.42%.

Hedge Funds Weigh In On Brookfield Renewable

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearbridge Investments LLC grew its stake in shares of Brookfield Renewable by 103.3% in the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock worth $353,183,000 after purchasing an additional 4,681,203 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Brookfield Renewable during the 3rd quarter worth about $98,293,000. Norges Bank bought a new stake in shares of Brookfield Renewable in the 2nd quarter valued at about $58,250,000. UBS Group AG increased its stake in shares of Brookfield Renewable by 225.2% in the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company’s stock valued at $69,095,000 after buying an additional 1,247,953 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Brookfield Renewable by 49.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after acquiring an additional 985,442 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.