Brookfield Renewable (NYSE:BEPC) Lowered to “Sell” Rating by Wall Street Zen

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

BEPC has been the subject of several other research reports. Barclays raised their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Finally, Morgan Stanley restated an “underweight” rating and issued a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research report on Monday, March 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 MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $38.50.

Brookfield Renewable Trading Down 0.1%

NYSE:BEPC opened at $39.38 on Friday. Brookfield Renewable has a 12-month low of $23.73 and a 12-month high of $45.18. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.35. The stock’s 50 day simple moving average is $41.21 and its 200-day simple moving average is $39.83. The firm has a market cap of $5.73 billion, a P/E ratio of -44.25 and a beta of 1.24.

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, February 27th will be given a $0.392 dividend. 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 4.0%. The ex-dividend date is Friday, February 27th. Brookfield Renewable’s dividend payout ratio (DPR) is -176.40%.

Institutional Investors Weigh In On Brookfield Renewable

Several institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in shares of Brookfield Renewable during the 1st quarter worth approximately $756,000. Integrated Wealth Concepts LLC purchased a new stake in Brookfield Renewable in the 1st quarter valued at approximately $214,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Brookfield Renewable by 115.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,963 shares of the company’s stock valued at $1,813,000 after buying an additional 34,799 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Brookfield Renewable by 32.7% during 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 grew its holdings in Brookfield Renewable by 2.2% during 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.