Brookfield Renewable (NYSE:BEPC) Given New $48.00 Price Target at Morgan Stanley

Brookfield Renewable (NYSE:BEPC) had its price objective boosted by Morgan Stanley from $40.00 to $48.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 18.70% from the company’s current price.

A number of other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Wednesday. Barclays boosted their price target on shares of Brookfield Renewable from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Brookfield Renewable from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $39.75.

Brookfield Renewable Price Performance

BEPC traded down $0.82 during trading on Monday, reaching $40.44. 523,284 shares of the company were exchanged, compared to its average volume of 1,020,959. Brookfield Renewable has a 12-month low of $23.73 and a 12-month high of $45.10. The company’s 50-day moving average is $39.27 and its two-hundred day moving average is $35.03. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 1.21. The company has a market cap of $5.86 billion, a price-to-earnings ratio of -45.39 and a beta of 1.29.

Institutional Trading of Brookfield Renewable

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Brookfield Renewable by 2.6% in the third quarter. Vanguard Group Inc. now owns 6,004,715 shares of the company’s stock worth $206,717,000 after acquiring an additional 151,186 shares in the last quarter. Parnassus Investments LLC raised its position in Brookfield Renewable by 1.4% during the third quarter. Parnassus Investments LLC now owns 5,337,630 shares of the company’s stock valued at $183,721,000 after purchasing an additional 74,543 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Brookfield Renewable by 2.7% during the third quarter. Principal Financial Group Inc. now owns 4,646,524 shares of the company’s stock worth $159,935,000 after purchasing an additional 121,328 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Brookfield Renewable by 3.1% in the 3rd quarter. Legal & General Group Plc now owns 3,944,804 shares of the company’s stock worth $135,830,000 after purchasing an additional 117,058 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Brookfield Renewable by 49.6% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,972,774 shares of the company’s stock worth $97,457,000 after purchasing an additional 985,442 shares in the last quarter. 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.