Brookfield Renewable Corporation (NYSE:BEPC) Receives $40.00 Average Target Price from Analysts

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

Several equities research analysts have weighed in on the stock. Barclays raised their target price on shares of Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Morgan Stanley increased their price objective on Brookfield Renewable from $40.00 to $48.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th.

Brookfield Renewable Stock Down 3.6%

NYSE:BEPC opened at $39.19 on Friday. The company’s 50-day simple moving average is $41.05 and its 200-day simple moving average is $39.44. 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 has a fifty-two week low of $23.73 and a fifty-two week high of $45.18. The stock has a market capitalization of $5.70 billion, a P/E ratio of -44.03 and a beta of 1.24.

Brookfield Renewable Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders 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. This represents a $1.57 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, February 27th. Brookfield Renewable’s dividend payout ratio is -176.40%.

Hedge Funds Weigh In On Brookfield Renewable

Hedge funds have recently modified their holdings of the stock. Motiv8 Investments LLC acquired a new stake in Brookfield Renewable in the 4th quarter worth approximately $25,000. Torren Management LLC acquired a new position in Brookfield Renewable during the 4th quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Brookfield Renewable during the 4th quarter valued at approximately $27,000. SHP Wealth Management purchased a new position in shares of Brookfield Renewable in the fourth quarter worth $30,000. Finally, Princeton Global Asset Management LLC raised its holdings in shares of Brookfield Renewable by 102.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after buying an additional 405 shares during the last quarter. Institutional investors and hedge funds 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.