Brookfield Renewable (NYSE:BEPC) Price Target Raised to $39.00

Brookfield Renewable (NYSE:BEPC) had its price objective lifted by Morgan Stanley from $38.00 to $39.00 in a research report report published on Tuesday, MarketBeat.com reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research analysts also recently commented on BEPC. Wells Fargo & Company reduced their target price on Brookfield Renewable from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable from $34.00 to $38.00 and gave the company an “overweight” rating in a research report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $34.46 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 1.19. The firm has a market cap of $4.99 billion, a PE ratio of -38.72 and a beta of 1.17. Brookfield Renewable has a 12 month low of $23.73 and a 12 month high of $37.00. The company’s 50-day moving average price is $34.15 and its two-hundred day moving average price is $30.46.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, August 29th will be given a dividend of $0.373 per share. The ex-dividend date is Friday, August 29th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 4.3%. Brookfield Renewable’s payout ratio is presently -167.42%.

Institutional Trading of Brookfield Renewable

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Brookfield Renewable by 16.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,483 shares of the company’s stock valued at $1,314,000 after purchasing an additional 6,839 shares during the period. Northern Trust Corp lifted its stake in Brookfield Renewable by 52.3% in the fourth quarter. Northern Trust Corp now owns 756,065 shares of the company’s stock valued at $20,913,000 after buying an additional 259,519 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in Brookfield Renewable during the fourth quarter worth about $227,000. Becker Capital Management Inc. grew its position in shares of Brookfield Renewable by 2.1% during the 4th quarter. Becker Capital Management Inc. now owns 223,295 shares of the company’s stock worth $6,176,000 after buying an additional 4,523 shares during the period. Finally, Guardian Capital LP grew its position in shares of Brookfield Renewable by 0.6% during the 4th quarter. Guardian Capital LP now owns 446,124 shares of the company’s stock worth $12,340,000 after buying an additional 2,766 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation owns and operates a portfolio of renewable power and sustainable solution assets primarily in the United States, Europe, Colombia, and Brazil. It operates hydroelectric, wind, solar, and distributed energy and sustainable solutions with an installed capacity of approximately 19,161 megawatts.