JPMorgan Chase & Co. Raises Brookfield Renewable (NYSE:BEPC) Price Target to $44.00

Key Points

• JPMorgan Chase & Co. has raised its price target for Brookfield Renewable (NYSE:BEPC) from $41.00 to $44.00, indicating a potential upside of 6.23% from the current price.
• As of now, Brookfield Renewable shares are trading at $41.42, experiencing a 1.9% increase during transaction hours, with an average 50-day moving average of $34.75.
• Institutional investors hold a significant stake in Brookfield Renewable, with nearly 75.12% of the stock currently owned by hedge funds and other institutional investors.

Brookfield Renewable (NYSE:BEPC - Get Free Report) had its target price hoisted by JPMorgan Chase & Co. from $41.00 to $44.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential upside of 6.23% from the company's current price.

A number of other research firms have also weighed in on BEPC. Morgan Stanley raised their target price on Brookfield Renewable from $38.00 to $39.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Weiss Ratings reiterated a "sell (d)" rating on shares of Brookfield Renewable in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Brookfield Renewable presently has an average rating of "Hold" and an average price target of $36.50.

Brookfield Renewable Trading Up 1.9%

NYSE BEPC traded up $0.78 during trading hours on Thursday, hitting $41.42. 198,433 shares of the company's stock were exchanged, compared to its average volume of 987,743. The stock has a 50-day simple moving average of $34.75 and a 200 day simple moving average of $32.11. Brookfield Renewable has a 1-year low of $23.73 and a 1-year high of $41.73. The firm has a market cap of $6.00 billion, a price-to-earnings ratio of -46.60 and a beta of 1.21. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 1.19.

Hedge Funds Weigh In On Brookfield Renewable

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its position in Brookfield Renewable by 19.0% during the third quarter. CWM LLC now owns 4,542 shares of the company's stock worth $156,000 after buying an additional 724 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Brookfield Renewable in the 3rd quarter worth about $1,098,000. Farther Finance Advisors LLC boosted its holdings in shares of Brookfield Renewable by 180.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,696 shares of the company's stock worth $58,000 after purchasing an additional 1,091 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Brookfield Renewable by 51.8% in the 2nd quarter. Osaic Holdings Inc. now owns 24,653 shares of the company's stock worth $800,000 after purchasing an additional 8,413 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC boosted its holdings in shares of Brookfield Renewable by 0.8% in the 2nd quarter. Parr Mcknight Wealth Management Group LLC now owns 47,938 shares of the company's stock worth $1,571,000 after purchasing an additional 384 shares in the last quarter. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Company Profile

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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