JPMorgan Chase & Co. Lowers Brookfield Renewable (NYSE:BEPC) Price Target to $32.00

Brookfield Renewable (NYSE:BEPC) had its price target reduced by analysts at JPMorgan Chase & Co. from $34.00 to $32.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 24.99% from the company’s current price.

Brookfield Renewable Stock Up 2.5 %

BEPC stock opened at $25.60 on Thursday. The firm has a 50 day moving average of $28.79 and a 200 day moving average of $29.52. The stock has a market capitalization of $3.71 billion, a PE ratio of -31.22 and a beta of 1.23. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. Brookfield Renewable has a 52 week low of $21.35 and a 52 week high of $35.14.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. Sell-side analysts forecast that Brookfield Renewable will post -1.04 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Renewable

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its stake in Brookfield Renewable by 468.4% during the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after purchasing an additional 623 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Brookfield Renewable during the 3rd quarter valued at about $31,000. Signaturefd LLC boosted its position in shares of Brookfield Renewable by 250.7% during the 3rd quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock valued at $72,000 after acquiring an additional 1,567 shares during the last quarter. US Bancorp DE boosted its position in shares of Brookfield Renewable by 99.4% during the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock valued at $99,000 after acquiring an additional 1,516 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Brookfield Renewable during the 3rd quarter valued at about $133,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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.