Weiss Ratings Reiterates Sell (D) Rating for Brookfield Renewable (NYSE:BEPC)

Key Points

• Weiss Ratings has reaffirmed a sell (D) rating for Brookfield Renewable (NYSE:BEPC), highlighting concerns about the stock's performance.
• Several brokerages have recently adjusted their price targets for Brookfield Renewable, with Morgan Stanley setting a target of $39.00 and JPMorgan Chase increasing their target to $41.00, both providing an "overweight" rating.
• Institutional investors currently own 75.12% of Brookfield Renewable's stock, indicating strong institutional interest in the company.

Brookfield Renewable (NYSE:BEPC - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other brokerages have also recently weighed in on BEPC. Morgan Stanley boosted their price objective on Brookfield Renewable from $38.00 to $39.00 and gave the stock an "overweight" rating in a report on Tuesday, August 26th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield Renewable from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Friday, September 19th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $35.75.

Brookfield Renewable Price Performance

NYSE BEPC traded up $0.68 on Wednesday, hitting $38.77. 1,565,612 shares of the company were exchanged, compared to its average volume of 988,750. The company has a market cap of $5.62 billion, a P/E ratio of -43.56 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. The firm has a 50 day moving average of $34.26 and a two-hundred day moving average of $31.70. Brookfield Renewable has a 1-year low of $23.73 and a 1-year high of $39.20.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Modern Wealth Management LLC increased its stake in Brookfield Renewable by 2.3% in the 2nd quarter. Modern Wealth Management LLC now owns 14,856 shares of the company's stock valued at $487,000 after buying an additional 327 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Brookfield Renewable by 0.3% in the second quarter. State Board of Administration of Florida Retirement System now owns 130,474 shares of the company's stock valued at $4,277,000 after purchasing an additional 350 shares in the last quarter. MAI Capital Management grew its stake in Brookfield Renewable by 59.0% in the first quarter. MAI Capital Management now owns 951 shares of the company's stock valued at $27,000 after purchasing an additional 353 shares in the last quarter. Gilbert & Cook Inc. grew its stake in Brookfield Renewable by 4.3% in the second quarter. Gilbert & Cook Inc. now owns 8,594 shares of the company's stock valued at $282,000 after purchasing an additional 357 shares in the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in shares of Brookfield Renewable by 0.6% in the 2nd quarter. Treasurer of the State of North Carolina now owns 63,088 shares of the company's stock valued at $2,068,000 after buying an additional 368 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors.

About Brookfield Renewable

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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