JPMorgan Chase & Co. Has Lowered Expectations for Brookfield Renewable (NYSE:BEPC) Stock Price

Brookfield Renewable (NYSE:BEPC) had its target price dropped by stock analysts at JPMorgan Chase & Co. from $38.00 to $36.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.36% from the company’s current price.

BEPC has been the topic of several other research reports. Barclays lifted their price target on Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 22nd. Wall Street Zen upgraded shares of Brookfield Renewable from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a report on Friday. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $39.00.

Brookfield Renewable Price Performance

NYSE:BEPC traded up $0.82 during midday trading on Monday, hitting $34.17. 568,075 shares of the company were exchanged, compared to its average volume of 1,400,969. The company has a fifty day simple moving average of $36.35 and a 200 day simple moving average of $38.97. Brookfield Renewable has a fifty-two week low of $31.82 and a fifty-two week high of $45.18. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33.

Hedge Funds Weigh In On Brookfield Renewable

Large investors have recently made changes to their positions in the stock. Allied Private Wealth LLC acquired a new position in Brookfield Renewable during the second quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Brookfield Renewable during the second quarter worth about $33,000. Assenagon Asset Management S.A. lifted its holdings in shares of Brookfield Renewable by 113.7% in the second quarter. Assenagon Asset Management S.A. now owns 17,821 shares of the company’s stock valued at $662,000 after purchasing an additional 9,483 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Brookfield Renewable by 28.2% in the second quarter. GAMMA Investing LLC now owns 2,581 shares of the company’s stock valued at $96,000 after purchasing an additional 568 shares during the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Brookfield Renewable during the 1st quarter worth approximately $33,000. Hedge funds and other 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.