Brookfield Renewable (NYSE:BEPC) Stock Price Target Lowered at Morgan Stanley

Key Points

• Morgan Stanley lowered Brookfield Renewable’s price target from $42 to $37 while maintaining an “underweight” rating, implying approximately 29.25% upside from the prior close.
• Analyst sentiment remains cautious: Brookfield Renewable has a consensus “Reduce” rating and an average price target of $37.33, with ratings split between Hold and Sell.
• Shares fell 2.3% to $28.63, near the company’s 12-month low of $27.57. Institutional investors own approximately 75.12% of the stock.

Brookfield Renewable (NYSE:BEPC - Get Free Report) had its target price lowered by Morgan Stanley from $42.00 to $37.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an "underweight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 29.25% from the company's previous close.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Wall Street Zen cut Brookfield Renewable from a "hold" rating to a "sell" rating in a report on Sunday, August 9th. Barclays raised their price target on Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. cut their price target on Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating for the company in a report on Monday, August 3rd. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Brookfield Renewable currently has a consensus rating of "Reduce" and an average price target of $37.33.

Brookfield Renewable Trading Down 2.3%

Shares of NYSE BEPC traded down $0.67 on Tuesday, hitting $28.63. The company's stock had a trading volume of 1,050,235 shares, compared to its average volume of 1,506,092. Brookfield Renewable has a 12-month low of $27.57 and a 12-month high of $45.18. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 2.10. The stock has a 50 day moving average of $31.39 and a 200-day moving average of $35.49.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Allied Private Wealth LLC purchased a new stake in shares of Brookfield Renewable during the 2nd quarter valued at $27,000. SHP Wealth Management acquired a new stake in shares of Brookfield Renewable during the 4th quarter worth $30,000. NewEdge Advisors LLC acquired a new stake in shares of Brookfield Renewable during the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Brookfield Renewable during the 2nd quarter worth $33,000. Finally, Versant Capital Management Inc raised its position in shares of Brookfield Renewable by 416.0% in the 3rd quarter. Versant Capital Management Inc now owns 1,517 shares of the company's stock worth $43,000 after buying an additional 1,223 shares during the period. 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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