Brookfield Renewable (NYSE:BEPC) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Key Points

• JPMorgan cut Brookfield Renewable’s price target from $36 to $32 while maintaining a neutral rating, implying approximately 12.6% upside from the stock’s $28.42 price.
• Analyst sentiment remains cautious: Brookfield Renewable has an average “Reduce” rating, with two Hold and two Sell ratings and an average price target of $36.
• The stock fell 0.9% to $28.42 and is trading near its 52-week low of $27.57, while institutional investors own a substantial 75.12% of outstanding shares.

Brookfield Renewable (NYSE:BEPC - Get Free Report) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $36.00 to $32.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 12.59% from the company's current price.

A number of other research firms have also commented on BEPC. Weiss Ratings reissued a "sell (e+)" rating on shares of Brookfield Renewable in a report on Friday, July 31st. Barclays upped their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 22nd. Morgan Stanley dropped their price objective on shares of Brookfield Renewable from $42.00 to $37.00 and set an "underweight" rating on the stock in a report on Tuesday, October 13th. Finally, Wall Street Zen lowered shares of Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Sunday, August 9th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $36.00.

Brookfield Renewable Stock Down 0.9%

BEPC traded down $0.25 during trading on Monday, reaching $28.42. The stock had a trading volume of 1,228,235 shares, compared to its average volume of 1,524,361. Brookfield Renewable has a one year low of $27.57 and a one year high of $45.18. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.40 and a quick ratio of 0.40. The stock's 50 day moving average is $31.01 and its two-hundred day moving average is $35.18.

Institutional Investors Weigh In On Brookfield Renewable

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Syon Capital LLC raised its holdings in Brookfield Renewable by 3.2% in the second quarter. Syon Capital LLC now owns 9,634 shares of the company's stock valued at $358,000 after acquiring an additional 303 shares in the last quarter. Corient Private Wealth LP raised its holdings in shares of Brookfield Renewable by 2.2% in the 2nd quarter. Corient Private Wealth LP now owns 13,814 shares of the company's stock valued at $513,000 after purchasing an additional 303 shares in the last quarter. Comprehensive Money Management Services LLC lifted its position in shares of Brookfield Renewable by 1.3% during the 1st quarter. Comprehensive Money Management Services LLC now owns 25,675 shares of the company's stock worth $1,023,000 after purchasing an additional 320 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in Brookfield Renewable by 5.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,293 shares of the company's stock valued at $345,000 after buying an additional 506 shares in the last quarter. Finally, Plan A Wealth LLC lifted its holdings in Brookfield Renewable by 2.9% during the 3rd quarter. Plan A Wealth LLC now owns 18,757 shares of the company's stock worth $529,000 after buying an additional 524 shares during the last quarter. Hedge funds and other institutional investors own 75.12% of the company's stock.

Brookfield Renewable Company Profile

Brookfield Renewable Corporation is a renewable power and sustainable solutions company affiliated with Brookfield Asset Management. It develops, owns, and operates a diversified portfolio of renewable energy and sustainable infrastructure assets, supplying electricity and related services to utilities, businesses, and other customers.

The company's activities include hydroelectric generation, onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy-transition solutions.

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