Brookfield Renewable (NYSE:BEPC) Stock Gets Price Target Reduction from JPMorgan Chase & Co.

Brookfield Renewable (NYSE:BEPC) had its price objective lowered by JPMorgan Chase & Co. from $36.00 to $32.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other analysts have also recently commented on BEPC. Barclays increased their target price on Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “sell” rating in a report on Sunday, August 9th. Morgan Stanley reduced their price target on shares of Brookfield Renewable from $42.00 to $37.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Friday, July 31st. Two research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $36.00.

Brookfield Renewable Trading Up 3.4%

Shares of BEPC opened at $29.53 on Monday. The stock has a fifty day moving average price of $30.68 and a two-hundred day moving average price of $34.94. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10. Brookfield Renewable has a 52-week low of $27.57 and a 52-week high of $45.18.

Brookfield Renewable Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st were given a dividend of $0.3920 per share. The ex-dividend date was Monday, August 31st. This represents a $1.57 dividend on an annualized basis and a yield of 5.3%.

Institutional Investors Weigh In On Brookfield Renewable

Several institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP bought a new stake in shares of Brookfield Renewable in the 2nd quarter valued at about $1,439,000. Dimensional Fund Advisors LP boosted its stake in Brookfield Renewable by 12.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 440,255 shares of the company’s stock worth $17,529,000 after acquiring an additional 50,124 shares during the last quarter. Edgestream Partners L.P. bought a new position in Brookfield Renewable during the 1st quarter worth approximately $10,264,000. Public Employees Retirement System of Ohio bought a new position in Brookfield Renewable during the 2nd quarter worth approximately $2,271,000. Finally, Baird Financial Group Inc. boosted its stake in Brookfield Renewable by 11.4% during the 2nd quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company’s stock worth $123,800,000 after acquiring an additional 340,103 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 renewable power and sustainable solutions company that provides investors with an interest in the Brookfield Renewable platform. The company owns and operates a diversified portfolio of renewable energy assets and is part of Brookfield Asset Management’s global renewable power business.

Its activities include the development, ownership and operation of hydroelectric, wind, solar and distributed energy facilities, as well as energy storage and other renewable power infrastructure.