Brookfield Renewable (NYSE:BEPC) Stock Gets Price Target Cut from Morgan Stanley

Brookfield Renewable (NYSE:BEPC) had its price target decreased by Morgan Stanley from $42.00 to $37.00 in a research report released on Tuesday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

Several other equities analysts also recently weighed in on BEPC. JPMorgan Chase & Co. reduced their price target on Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Monday, August 3rd. Barclays upped their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 22nd. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Friday, July 31st. Finally, Wall Street Zen downgraded shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $37.33.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC opened at $28.94 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10. The stock has a fifty day simple moving average of $31.11 and a two-hundred day simple moving average of $35.26. Brookfield Renewable has a 12-month low of $27.57 and a 12-month high of $45.18.

Brookfield Renewable Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, August 31st were given a $0.3920 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $1.57 annualized dividend and a yield of 5.4%.

Institutional Trading of Brookfield Renewable

Several institutional investors have recently added to or reduced their stakes in the business. Syon Capital LLC increased its holdings in shares of Brookfield Renewable by 3.2% in the 2nd quarter. Syon Capital LLC now owns 9,634 shares of the company’s stock worth $358,000 after purchasing an additional 303 shares in the last quarter. Corient Private Wealth LP lifted its holdings in shares of Brookfield Renewable by 2.2% during the second quarter. Corient Private Wealth LP now owns 13,814 shares of the company’s stock valued at $513,000 after purchasing an additional 303 shares in the last quarter. Comprehensive Money Management Services LLC lifted its holdings in shares of Brookfield Renewable by 1.3% during the first quarter. Comprehensive Money Management Services LLC now owns 25,675 shares of the company’s stock valued at $1,023,000 after purchasing an additional 320 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of Brookfield Renewable by 5.8% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,293 shares of the company’s stock valued at $345,000 after buying an additional 506 shares during the last quarter. Finally, Plan A Wealth LLC boosted its position in shares of Brookfield Renewable by 2.9% during the third quarter. Plan A Wealth LLC now owns 18,757 shares of the company’s stock valued at $529,000 after buying an additional 524 shares during the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation is a renewable power and sustainable solutions company affiliated with Brookfield Asset Management. It develops, owns, and operates a diversified portfolio of renewable energy and sustainable infrastructure assets, supplying electricity and related services to utilities, businesses, and other customers.

The company’s activities include hydroelectric generation, onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy-transition solutions.