Wall Street Zen Upgrades Brookfield Renewable (NYSE:BEPC) to Hold

Brookfield Renewable (NYSE:BEPC) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $38.00 price target on shares of Brookfield Renewable in a research report on Tuesday, July 21st. Weiss Ratings lowered shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Finally, Barclays lifted their price objective 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. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $39.67.

Brookfield Renewable Stock Up 0.2%

Shares of BEPC stock opened at $33.41 on Friday. Brookfield Renewable has a 1 year low of $31.82 and a 1 year high of $45.18. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81. The business’s fifty day moving average is $36.35 and its 200-day moving average is $38.97.

Hedge Funds Weigh In On Brookfield Renewable

A number of hedge funds have recently modified their holdings of the stock. Motiv8 Investments LLC purchased a new stake in shares of Brookfield Renewable during the fourth quarter valued at $25,000. Torren Management LLC purchased a new position in Brookfield Renewable in the 4th quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Brookfield Renewable in the 4th quarter worth about $27,000. Allied Private Wealth LLC acquired a new stake in Brookfield Renewable during the 2nd quarter worth about $27,000. Finally, SHP Wealth Management acquired a new stake in Brookfield Renewable during the 4th quarter worth about $30,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Company Profile

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.