Brookfield Renewable (NYSE:BEPC) PT Raised to $34.00

Brookfield Renewable (NYSE:BEPC) had its price objective increased by stock analysts at JPMorgan Chase & Co. from $33.00 to $34.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 5.85% from the stock’s previous close.

Brookfield Renewable Price Performance

Shares of BEPC stock opened at $32.12 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The company’s 50-day simple moving average is $28.70 and its two-hundred day simple moving average is $28.01. Brookfield Renewable has a one year low of $21.35 and a one year high of $32.83. The company has a market capitalization of $5.77 billion, a P/E ratio of -69.82 and a beta of 1.18.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. As a group, equities analysts anticipate that Brookfield Renewable will post -1.02 EPS for the current year.

Hedge Funds Weigh In On Brookfield Renewable

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Parnassus Investments LLC lifted its position in Brookfield Renewable by 182.9% during the fourth quarter. Parnassus Investments LLC now owns 6,491,404 shares of the company’s stock valued at $186,888,000 after acquiring an additional 4,196,415 shares during the last quarter. Vanguard Group Inc. lifted its position in Brookfield Renewable by 0.9% during the first quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company’s stock valued at $128,851,000 after acquiring an additional 47,139 shares during the last quarter. Principal Financial Group Inc. lifted its position in Brookfield Renewable by 1.7% during the second quarter. Principal Financial Group Inc. now owns 4,757,977 shares of the company’s stock valued at $135,031,000 after acquiring an additional 80,350 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Brookfield Renewable by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock valued at $59,359,000 after acquiring an additional 191,550 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its position in Brookfield Renewable by 50.6% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,083,864 shares of the company’s stock valued at $59,994,000 after acquiring an additional 699,739 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

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.