Brookfield Renewable (NYSE:BEPC) Receives Neutral Rating from JPMorgan Chase & Co.

Brookfield Renewable (NYSE:BEPC)‘s stock had its “neutral” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research report issued on Tuesday,Benzinga reports. They presently have a $38.00 price objective on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 11.58% from the stock’s previous close.

BEPC has been the topic of several other research reports. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Weiss Ratings lowered shares of Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a research note on Monday, May 4th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $38.67.

Brookfield Renewable Stock Down 0.5%

Shares of NYSE:BEPC traded down $0.17 during midday trading on Tuesday, reaching $34.05. The company had a trading volume of 130,751 shares, compared to its average volume of 1,329,270. The company’s 50 day moving average price is $37.03 and its 200 day moving average price is $39.33. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33. Brookfield Renewable has a 52-week low of $32.76 and a 52-week high of $45.18.

Institutional Trading of Brookfield Renewable

A number of large investors have recently modified their holdings of the business. Clearbridge Investments LLC grew its stake in Brookfield Renewable by 103.3% in the 4th quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company’s stock worth $353,183,000 after buying an additional 4,681,203 shares in the last quarter. Vanguard Group Inc. grew its position in Brookfield Renewable by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company’s stock worth $233,817,000 after acquiring an additional 90,863 shares in the last quarter. Legal & General Group Plc increased its stake in Brookfield Renewable by 5.5% in the fourth quarter. Legal & General Group Plc now owns 4,160,715 shares of the company’s stock valued at $159,809,000 after acquiring an additional 215,911 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in Brookfield Renewable by 49.6% in the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock valued at $97,457,000 after acquiring an additional 985,442 shares during the last quarter. Finally, Bank of America Corp DE raised its position in Brookfield Renewable by 3.4% during the third quarter. Bank of America Corp DE now owns 2,295,040 shares of the company’s stock valued at $78,995,000 after purchasing an additional 74,766 shares in the last quarter. 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.