Barclays Issues Positive Forecast for Brookfield Renewable (NYSE:BEPC) Stock Price

Key Points

• Barclays raised its price target for Brookfield Renewable stock from $31.00 to $35.00, maintaining an "equal weight" rating, suggesting an expected downside of 11.33% from the previous close.
• JPMorgan Chase and Morgan Stanley have issued higher price targets of $44.00 and $39.00, respectively, reflecting a generally positive outlook despite mixed ratings from analysts.
• The stock has shown significant institutional interest, with over 75% of shares owned by institutional investors, indicating confidence in the company's future.

Brookfield Renewable (NYSE:BEPC - Get Free Report) had its price objective increased by equities research analysts at Barclays from $31.00 to $35.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Barclays's price objective suggests a potential downside of 11.33% from the company's previous close.

BEPC has been the subject of several other research reports. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable from $41.00 to $44.00 and gave the stock an "overweight" rating in a report on Thursday, October 16th. Morgan Stanley boosted their price objective on Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a research report on Tuesday, August 26th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Brookfield Renewable in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $37.50.

Brookfield Renewable Stock Performance

Shares of BEPC opened at $39.47 on Wednesday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.27 and a quick ratio of 0.27. Brookfield Renewable has a one year low of $23.73 and a one year high of $41.73. The firm has a market capitalization of $5.72 billion, a P/E ratio of -44.35 and a beta of 1.21. The business has a fifty day moving average of $35.26 and a 200 day moving average of $32.49.

Institutional Investors Weigh In On Brookfield Renewable

Institutional investors and hedge funds have recently modified their holdings of the business. MAI Capital Management lifted its stake in shares of Brookfield Renewable by 59.0% during the 1st quarter. MAI Capital Management now owns 951 shares of the company's stock worth $27,000 after acquiring an additional 353 shares during the last quarter. Curio Wealth LLC lifted its stake in shares of Brookfield Renewable by 95,300.0% during the 2nd quarter. Curio Wealth LLC now owns 954 shares of the company's stock worth $31,000 after acquiring an additional 953 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in Brookfield Renewable in the first quarter worth approximately $28,000. Monetary Management Group Inc. bought a new position in Brookfield Renewable in the first quarter worth approximately $28,000. Finally, EverSource Wealth Advisors LLC grew its stake in Brookfield Renewable by 88.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,157 shares of the company's stock worth $38,000 after purchasing an additional 543 shares in the last quarter. 75.12% of the stock is owned by institutional investors.

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.

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