Brookfield Renewable (NYSE:BEPC) Price Target Lowered to $36.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Brookfield Renewable’s price target from $38 to $36 while maintaining a “neutral” rating, implying roughly 5.36% upside from the prior close.
• Analyst sentiment remains cautious: Brookfield Renewable has an average “Reduce” rating and a consensus price target of $39, with two Hold and two Sell ratings.
• The stock traded at $34.17, below its 50-day and 200-day moving averages, while institutional investors collectively owned 75.12% of the company.

Brookfield Renewable (NYSE:BEPC - Get Free Report) had its target price dropped by investment analysts at JPMorgan Chase & Co. from $38.00 to $36.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 5.36% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Barclays lifted their target price on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of Brookfield Renewable from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of Brookfield Renewable in a report on Friday. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $39.00.

Brookfield Renewable Price Performance

Brookfield Renewable stock traded up $0.82 during midday trading on Monday, reaching $34.17. The company had a trading volume of 568,075 shares, compared to its average volume of 1,400,969. Brookfield Renewable has a 12-month low of $31.82 and a 12-month high of $45.18. The firm's fifty day simple moving average is $36.35 and its 200-day simple moving average is $38.97. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 1.81.

Institutional Investors Weigh In On Brookfield Renewable

A number of institutional investors have recently made changes to their positions in BEPC. Clearbridge Investments LLC grew its position in Brookfield Renewable by 103.3% in the 4th 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 in the last quarter. Norges Bank purchased a new stake in Brookfield Renewable during the 4th quarter worth approximately $68,132,000. UBS Group AG increased its position in shares of Brookfield Renewable by 225.2% during the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company's stock worth $69,095,000 after acquiring an additional 1,247,953 shares during the period. Canada Pension Plan Investment Board grew its stake in Brookfield Renewable by 49.6% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company's stock worth $97,457,000 after purchasing an additional 985,442 shares in the last quarter. Finally, Gotham Asset Management LLC increased its holdings in Brookfield Renewable by 128.4% during the 4th quarter. Gotham Asset Management LLC now owns 1,287,302 shares of the company's stock worth $49,355,000 after purchasing an additional 723,692 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.