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

Key Points

• Wall Street Zen upgraded Brookfield Renewable from “sell” to “hold,” while the broader analyst consensus remains “Reduce,” with an average target price of $39.67.
• BEPC shares opened at $33.41, below the consensus target and within a 12-month range of $31.82 to $45.18; Barclays and JPMorgan maintain neutral/equal-weight views.
• Institutional investors own 75.12% of the company, with Clearbridge Investments and the Canada Pension Plan Investment Board among those recently increasing their stakes.

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

Several other research analysts have also recently commented on the stock. JPMorgan Chase & Co. restated a "neutral" rating and set a $38.00 target price on shares of Brookfield Renewable in a report on Tuesday, July 21st. Weiss Ratings lowered shares of Brookfield Renewable from a "sell (d)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Finally, Barclays boosted their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $39.67.

Brookfield Renewable Stock Up 0.8%

Shares of BEPC opened at $33.41 on Friday. Brookfield Renewable has a twelve month low of $31.82 and a twelve month high of $45.18. The company has a 50 day moving average of $36.35 and a 200-day moving average of $38.96. The company has a quick ratio of 0.33, a current 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 and hedge funds have recently made changes to their positions in BEPC. Clearbridge Investments LLC grew its stake in shares of 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 buying an additional 4,681,203 shares in the last quarter. Vanguard Group Inc. increased its holdings in Brookfield Renewable by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 6,095,578 shares of the company's stock worth $233,817,000 after buying an additional 90,863 shares during the last quarter. Legal & General Group Plc raised its position in Brookfield Renewable by 5.5% during the fourth quarter. Legal & General Group Plc now owns 4,160,715 shares of the company's stock worth $159,809,000 after acquiring an additional 215,911 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Brookfield Renewable by 49.6% during the second quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company's stock worth $97,457,000 after acquiring an additional 985,442 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Brookfield Renewable by 3.4% during the third quarter. Bank of America Corp DE now owns 2,295,040 shares of the company's stock worth $78,995,000 after acquiring an additional 74,766 shares in the last quarter. Institutional investors own 75.12% of the company's stock.

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.