Brookfield Renewable (NYSE:BEPC) Given New $33.00 Price Target at Wells Fargo & Company

Brookfield Renewable (NYSE:BEPC) had its price target lowered by analysts at Wells Fargo & Company from $35.00 to $33.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 26.99% from the stock’s previous close.

Separately, JPMorgan Chase & Co. lowered their target price on Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd.

Brookfield Renewable Price Performance

BEPC stock traded down $0.70 during midday trading on Monday, hitting $25.99. The company’s stock had a trading volume of 371,547 shares, compared to its average volume of 1,175,404. Brookfield Renewable has a 12 month low of $21.35 and a 12 month high of $35.14. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of -29.20 and a beta of 1.22. The company has a 50 day moving average of $28.24 and a two-hundred day moving average of $29.33.

Brookfield Renewable (NYSE:BEPC) last posted its earnings results on Friday, January 31st. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%. On average, analysts expect that Brookfield Renewable will post -1.62 EPS for the current year.

Institutional Trading of Brookfield Renewable

Several hedge funds and other institutional investors have recently bought and sold shares of BEPC. CIBC Asset Management Inc increased its stake in Brookfield Renewable by 26.0% in the third quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock worth $81,291,000 after purchasing an additional 504,060 shares during the period. Baillie Gifford & Co. increased its stake in Brookfield Renewable by 58.5% in the fourth quarter. Baillie Gifford & Co. now owns 663,077 shares of the company’s stock worth $18,341,000 after purchasing an additional 244,706 shares during the period. Millennium Management LLC increased its stake in Brookfield Renewable by 219.6% in the second quarter. Millennium Management LLC now owns 233,187 shares of the company’s stock worth $6,614,000 after purchasing an additional 160,216 shares during the period. Asset Management Advisors LLC increased its stake in Brookfield Renewable by 133.0% in the third quarter. Asset Management Advisors LLC now owns 195,140 shares of the company’s stock worth $6,373,000 after purchasing an additional 111,390 shares during the period. Finally, Parnassus Investments LLC increased its stake in Brookfield Renewable by 3.7% in the third quarter. Parnassus Investments LLC now owns 2,667,638 shares of the company’s stock worth $87,125,000 after purchasing an additional 94,710 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

About Brookfield Renewable

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.