Brookfield Renewable’s (BEPC) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of Brookfield Renewable (NYSE:BEPC) in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a $38.00 target price on the stock.

A number of other research analysts also recently issued reports on BEPC. Weiss Ratings downgraded Brookfield Renewable from a “sell (d)” rating to a “sell (e+)” rating in a report on Monday, May 4th. Wall Street Zen cut Brookfield Renewable from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Finally, Morgan Stanley restated an “underweight” rating and set a $42.00 price objective (down from $48.00) on shares of Brookfield Renewable in a research note on Monday, March 23rd. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $39.67.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC opened at $33.60 on Tuesday. Brookfield Renewable has a 52 week low of $32.10 and a 52 week high of $45.18. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.33 and a quick ratio of 0.33. The firm has a 50 day moving average of $36.82 and a 200 day moving average of $39.22.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 29th were given a dividend of $0.392 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.57 dividend on an annualized basis and a yield of 4.7%.

Institutional Investors Weigh In On Brookfield Renewable

Several institutional investors have recently bought and sold shares of the company. Allied Private Wealth LLC purchased a new position in Brookfield Renewable in the second quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Brookfield Renewable during the 2nd quarter valued at $33,000. Assenagon Asset Management S.A. boosted its position in shares of Brookfield Renewable by 113.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 17,821 shares of the company’s stock worth $662,000 after purchasing an additional 9,483 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Brookfield Renewable by 28.2% in the 2nd quarter. GAMMA Investing LLC now owns 2,581 shares of the company’s stock worth $96,000 after purchasing an additional 568 shares in the last quarter. Finally, NewEdge Advisors LLC purchased a new position in Brookfield Renewable during the 1st quarter worth $33,000. 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 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.