Brookfield Renewable Corporation (NYSE:BEPC) Receives $40.00 Average Price Target from Analysts

Brookfield Renewable Corporation (NYSE:BEPC) has earned a consensus recommendation of “Hold” from the five research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $40.00.

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price target on shares of Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Monday, December 29th. Barclays boosted their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen raised Brookfield Renewable from a “sell” rating to a “hold” rating in a report on Saturday, March 7th.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $41.01 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market capitalization of $5.97 billion, a PE ratio of -46.08 and a beta of 1.24. Brookfield Renewable has a fifty-two week low of $23.73 and a fifty-two week high of $45.18. The company has a fifty day moving average of $41.09 and a two-hundred day moving average of $39.54.

Brookfield Renewable Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, February 27th will be given a dividend of $0.392 per share. The ex-dividend date is Friday, February 27th. This is a positive change from Brookfield Renewable’s previous quarterly dividend of $0.37. This represents a $1.57 annualized dividend and a dividend yield of 3.8%. Brookfield Renewable’s dividend payout ratio (DPR) is presently -175.28%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in shares of Brookfield Renewable by 728.3% in the third quarter. Quantbot Technologies LP now owns 130,474 shares of the company’s stock worth $4,491,000 after buying an additional 114,722 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Brookfield Renewable in the 3rd quarter valued at about $1,342,000. Vanguard Group Inc. lifted its stake in Brookfield Renewable by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock worth $206,717,000 after purchasing an additional 151,186 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Brookfield Renewable by 9.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 533,066 shares of the company’s stock worth $18,348,000 after purchasing an additional 46,796 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Brookfield Renewable by 699.1% during the 3rd quarter. SG Americas Securities LLC now owns 221,279 shares of the company’s stock worth $7,616,000 after purchasing an additional 193,588 shares during the last quarter. 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.