Brookfield Renewable Corporation (NYSE:BEPC) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts give Brookfield Renewable a consensus rating of Hold (2 sell, 1 hold, 2 buy) with an average 12‑month price target of $38.50.
• Institutional investors have been increasing stakes—Clearbridge boosted its holding 103.3% and UBS by 225.2%—with institutions now owning 75.12% of the stock.
• Brookfield raised its quarterly dividend to $0.392 (annualized $1.57), implying a yield of about 3.8%, which was paid on March 31.

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) has been given a consensus rating of "Hold" by the five ratings firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $38.50.

A number of equities analysts recently commented on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Monday, December 29th. Morgan Stanley reiterated an "underweight" rating and issued a $42.00 price target (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Barclays lifted their price target on Brookfield Renewable from $35.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. Finally, Wall Street Zen downgraded Brookfield Renewable from a "hold" rating to a "sell" rating in a research note on Saturday, March 28th.

Hedge Funds Weigh In On Brookfield Renewable

A number of hedge funds and other institutional investors have recently bought and sold shares of BEPC. Clearbridge Investments LLC boosted its stake in Brookfield Renewable by 103.3% in the fourth quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company's stock valued at $353,183,000 after acquiring an additional 4,681,203 shares during the period. CIBC Bancorp USA Inc. acquired a new position in Brookfield Renewable in the third quarter valued at approximately $98,293,000. Norges Bank acquired a new position in Brookfield Renewable in the fourth quarter valued at approximately $68,132,000. UBS Group AG boosted its stake in Brookfield Renewable by 225.2% in the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company's stock valued at $69,095,000 after acquiring an additional 1,247,953 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in Brookfield Renewable by 49.6% in the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company's stock valued at $97,457,000 after acquiring an additional 985,442 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $41.27 on Tuesday. Brookfield Renewable has a one year low of $23.73 and a one year high of $45.18. The stock has a 50-day simple moving average of $41.35 and a 200 day simple moving average of $40.14. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.35.

Brookfield Renewable Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, February 27th were paid a $0.392 dividend. The ex-dividend date was Friday, February 27th. This is an increase from Brookfield Renewable's previous quarterly dividend of $0.37. This represents a $1.57 dividend on an annualized basis and a yield of 3.8%.

About Brookfield Renewable

Brookfield Renewable Corporation NYSE: BEPC is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.

The company's operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.

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