Brookfield Renewable (NYSE:BEPC) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Brookfield Renewable from “sell” to “hold.” Analyst sentiment remains cautious overall: MarketBeat’s consensus rating is “Reduce,” with a $36 average price target.
• BEPC opened at $31.72, within a 12-month range of $27.57 to $45.18. Recent analyst moves included JPMorgan cutting its target to $32 and Morgan Stanley lowering its target to $37.
• Institutional investors own 75.12% of the stock, and several reported increasing their holdings, including Baird Financial Group, which raised its position by 11.4%.

Brookfield Renewable (NYSE:BEPC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Several other analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Brookfield Renewable in a report on Thursday, October 29th. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable from $36.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, October 19th. Morgan Stanley decreased their price target 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, Barclays upped their price objective on Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Two equities research 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 a consensus rating of "Reduce" and a consensus target price of $36.00.

Brookfield Renewable Stock Performance

BEPC opened at $31.72 on Friday. Brookfield Renewable has a 12-month low of $27.57 and a 12-month high of $45.18. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10. The stock has a fifty day simple moving average of $29.81 and a two-hundred day simple moving average of $36.19.

Institutional Investors Weigh In On Brookfield Renewable

Hedge funds and other institutional investors have recently made changes to their positions in the company. Baird Financial Group Inc. boosted its holdings in Brookfield Renewable by 11.4% in the 2nd quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company's stock valued at $123,800,000 after purchasing an additional 340,103 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Brookfield Renewable in the first quarter worth $10,264,000. Walleye Capital LLC lifted its position in shares of Brookfield Renewable by 309.4% during the 1st quarter. Walleye Capital LLC now owns 300,983 shares of the company's stock worth $11,988,000 after buying an additional 227,465 shares during the period. Quantinno Capital Management LP grew its holdings in shares of Brookfield Renewable by 134.8% in the 1st quarter. Quantinno Capital Management LP now owns 176,687 shares of the company's stock valued at $7,037,000 after buying an additional 101,422 shares during the period. Finally, Swiss National Bank raised its holdings in Brookfield Renewable by 27.0% in the 1st quarter. Swiss National Bank now owns 463,350 shares of the company's stock valued at $18,439,000 after acquiring an additional 98,600 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 NYSE: BEPC is a renewable power and sustainable solutions company that provides investors with an interest in the Brookfield Renewable platform. The company owns and operates a diversified portfolio of renewable energy assets and is part of Brookfield Asset Management's global renewable power business.

Its activities include the development, ownership and operation of hydroelectric, wind, solar and distributed energy facilities, as well as energy storage and other renewable power infrastructure.

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