JPMorgan Chase & Co. Boosts Brookfield Renewable (NYSE:BEPC) Price Target to $34.00

Brookfield Renewable (NYSE:BEPC) had its price objective raised by JPMorgan Chase & Co. from $33.00 to $34.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Brookfield Renewable Stock Performance

Shares of BEPC stock opened at $32.89 on Wednesday. The firm has a market capitalization of $5.91 billion, a price-to-earnings ratio of -71.50 and a beta of 1.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. The business’s 50-day moving average price is $28.80 and its 200-day moving average price is $28.06. Brookfield Renewable has a 12 month low of $21.35 and a 12 month high of $33.03.

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

Brookfield Renewable Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable’s dividend payout ratio is currently -308.70%.

Institutional Trading of Brookfield Renewable

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its stake in shares of Brookfield Renewable by 24.8% in the 4th quarter. CIBC Asset Management Inc now owns 1,649,627 shares of the company’s stock valued at $47,639,000 after purchasing an additional 327,785 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Brookfield Renewable by 7.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 748,015 shares of the company’s stock worth $21,564,000 after acquiring an additional 53,391 shares during the period. Russell Investments Group Ltd. raised its position in shares of Brookfield Renewable by 67.1% in the 1st quarter. Russell Investments Group Ltd. now owns 206,733 shares of the company’s stock worth $5,079,000 after acquiring an additional 83,003 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Brookfield Renewable by 16.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 176,654 shares of the company’s stock valued at $4,340,000 after purchasing an additional 25,584 shares during the period. Finally, AMF Tjanstepension AB acquired a new position in shares of Brookfield Renewable in the 1st quarter valued at about $6,883,000. Institutional investors and hedge funds 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.