Brookfield Renewable (NYSE:BEPC) Stock Price Breaks Above Fifty Day Moving Average - What's Next?

Key Points

• Brookfield Renewable shares rose above their 50-day moving average, reaching $30.75 before closing near $30.52, while trading volume exceeded 3 million shares.
• Analyst sentiment remains weak: recent firms cut price targets or issued negative ratings, leaving the stock with a consensus “Reduce” rating and a $36 average price target.
• Institutional investors own approximately 75.1% of the stock, with several firms—including Dimensional Fund Advisors and Baird Financial—recently increasing their positions.

Brookfield Renewable Corporation (NYSE:BEPC - Get Free Report) shares passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $29.95 and traded as high as $30.75. Brookfield Renewable shares last traded at $30.5160, with a volume of 3,078,314 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BEPC shares. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable from $36.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, October 19th. Morgan Stanley decreased their target price on shares of Brookfield Renewable from $42.00 to $37.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 13th. Weiss Ratings reissued a "sell (e+)" rating on shares of Brookfield Renewable in a research report on Thursday. Barclays lifted their price objective on Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded Brookfield Renewable from a "hold" rating to a "sell" rating in a research report on Sunday, August 9th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $36.00.

Brookfield Renewable Stock Performance

The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10. The stock's fifty day simple moving average is $29.95 and its two-hundred day simple moving average is $36.34.

Institutional Trading of Brookfield Renewable

A number of large investors have recently bought and sold shares of BEPC. Engineers Gate Manager LP bought a new position in shares of Brookfield Renewable in the 2nd quarter worth $1,439,000. Dimensional Fund Advisors LP increased its position in shares of Brookfield Renewable by 12.8% during the first quarter. Dimensional Fund Advisors LP now owns 440,255 shares of the company's stock valued at $17,529,000 after acquiring an additional 50,124 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Brookfield Renewable during the 1st quarter valued at $10,264,000. Public Employees Retirement System of Ohio bought a new stake in shares of Brookfield Renewable during the 2nd quarter worth $2,271,000. Finally, Baird Financial Group Inc. grew its position in Brookfield Renewable by 11.4% during the second quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company's stock valued at $123,800,000 after buying an additional 340,103 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 renewable power and sustainable solutions company that provides investors with an interest in the Brookfield Renewable platform. The company owns and operates a diversified portfolio of renewable energy assets and is part of Brookfield Asset Management's global renewable power business.

Its activities include the development, ownership and operation of hydroelectric, wind, solar and distributed energy facilities, as well as energy storage and other renewable power infrastructure.

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