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

Brookfield Renewable Corporation (NYSE:BEPC) has received an average rating of “Hold” from the five research firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $40.00.

BEPC has been the subject of several recent research reports. Morgan Stanley lifted their price target on Brookfield Renewable from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. Barclays raised their price objective on Brookfield Renewable from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Brookfield Renewable from a “hold” rating to a “strong sell” rating in a report on Saturday, November 8th.

Institutional Trading of Brookfield Renewable

Several institutional investors and hedge funds have recently made changes to their positions in the company. Motiv8 Investments LLC purchased a new position in Brookfield Renewable during the 4th quarter valued at about $25,000. Torren Management LLC purchased a new position in Brookfield Renewable during the fourth quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Brookfield Renewable in the fourth quarter worth approximately $27,000. Curio Wealth LLC raised its stake in Brookfield Renewable by 95,300.0% in the second quarter. Curio Wealth LLC now owns 954 shares of the company’s stock worth $31,000 after buying an additional 953 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in Brookfield Renewable by 102.5% during the fourth quarter. Princeton Global Asset Management LLC now owns 800 shares of the company’s stock worth $31,000 after buying an additional 405 shares during the period. 75.12% of the stock is currently owned by institutional investors.

Brookfield Renewable Stock Performance

NYSE:BEPC opened at $42.83 on Monday. The stock has a market capitalization of $6.21 billion, a P/E ratio of -48.13 and a beta of 1.22. The company has a current ratio of 0.13, a quick ratio of 0.39 and a debt-to-equity ratio of 1.21. Brookfield Renewable has a 12-month low of $23.73 and a 12-month high of $45.18. The stock has a 50-day moving average price of $40.11 and a 200 day moving average price of $38.53.

Brookfield Renewable Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th will be paid a $0.392 dividend. 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 dividend on an annualized basis and a yield of 3.7%. Brookfield Renewable’s payout ratio is -167.42%.

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.