Wall Street Zen Downgrades Brookfield Renewable (NYSE:BEPC) to Sell

Key Points

• Wall Street Zen downgraded Brookfield Renewable to “sell” from “hold.” Other analysts remain cautious, giving the stock an average “Reduce” rating and a consensus price target of $39.
• BEPC opened at $33.71, below its 50-day and 200-day moving averages of $35.80 and $38.78, respectively. The stock has traded between $31.82 and $45.18 over the past year.
• Institutional investors and hedge funds own 75.12% of Brookfield Renewable, with several major investors increasing their stakes, including Clearbridge Investments, UBS and the Canada Pension Plan Investment Board.

Brookfield Renewable (NYSE:BEPC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Sunday.

BEPC has been the topic of several other research reports. Barclays lifted their target price on Brookfield Renewable from $36.00 to $39.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 22nd. Weiss Ratings reissued a "sell (e+)" rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. lowered their price target on Brookfield Renewable from $38.00 to $36.00 and set a "neutral" rating on the stock in a report on Monday, August 3rd. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $39.00.

Brookfield Renewable Stock Up 1.1%

NYSE:BEPC opened at $33.71 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.40 and a debt-to-equity ratio of 2.10. The stock has a 50 day moving average of $35.80 and a 200-day moving average of $38.78. Brookfield Renewable has a 52 week low of $31.82 and a 52 week high of $45.18.

Institutional Trading of Brookfield Renewable

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearbridge Investments LLC increased its stake in Brookfield Renewable by 103.3% in the 4th quarter. Clearbridge Investments LLC now owns 9,211,875 shares of the company's stock worth $353,183,000 after purchasing an additional 4,681,203 shares in the last quarter. Norges Bank purchased a new stake in Brookfield Renewable during the fourth quarter valued at about $68,132,000. UBS Group AG boosted its holdings in shares of Brookfield Renewable by 225.2% in the fourth quarter. UBS Group AG now owns 1,802,162 shares of the company's stock worth $69,095,000 after buying an additional 1,247,953 shares during the period. Canada Pension Plan Investment Board boosted its holdings in shares of 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 worth $97,457,000 after buying an additional 985,442 shares during the period. Finally, Gotham Asset Management LLC increased its position in shares of Brookfield Renewable by 128.4% in the fourth quarter. Gotham Asset Management LLC now owns 1,287,302 shares of the company's stock worth $49,355,000 after acquiring an additional 723,692 shares in the last quarter. 75.12% of the stock is 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.

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