Brookfield Renewable (NYSE:BEPC) Stock Price Target Lowered at JPMorgan Chase & Co.

Brookfield Renewable (NYSE:BEPC) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $36.00 to $32.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 12.59% from the company’s current price.

BEPC has been the subject of a number of other research reports. Barclays raised their target price on Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, July 22nd. Morgan Stanley decreased their target price on Brookfield Renewable from $42.00 to $37.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 13th. Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Brookfield Renewable in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable presently has an average rating of “Reduce” and an average target price of $36.00.

Brookfield Renewable Price Performance

NYSE BEPC traded down $0.25 during trading on Monday, reaching $28.42. The company’s stock had a trading volume of 1,228,235 shares, compared to its average volume of 1,524,361. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 2.10. Brookfield Renewable has a twelve month low of $27.57 and a twelve month high of $45.18. The business’s fifty day moving average price is $31.01 and its 200-day moving average price is $35.18.

Hedge Funds Weigh In On Brookfield Renewable

Several large investors have recently added to or reduced their stakes in BEPC. Baird Financial Group Inc. increased its position in Brookfield Renewable by 11.4% in the second quarter. Baird Financial Group Inc. now owns 3,335,117 shares of the company’s stock worth $123,800,000 after buying an additional 340,103 shares during the period. Royal Bank of Canada raised its stake in Brookfield Renewable by 7.1% during the 1st quarter. Royal Bank of Canada now owns 1,341,387 shares of the company’s stock valued at $53,428,000 after acquiring an additional 89,430 shares in the last quarter. TD Waterhouse Canada Inc. boosted its position in Brookfield Renewable by 7.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,391,791 shares of the company’s stock worth $51,293,000 after acquiring an additional 97,326 shares during the period. Epoch Investment Partners Inc. grew its stake in shares of Brookfield Renewable by 0.3% in the first quarter. Epoch Investment Partners Inc. now owns 1,264,009 shares of the company’s stock worth $50,345,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Brookfield Renewable by 27.0% during the first quarter. Swiss National Bank now owns 463,350 shares of the company’s stock valued at $18,439,000 after purchasing an additional 98,600 shares in the last quarter. 75.12% of the stock is currently owned by institutional investors.

About Brookfield Renewable

Brookfield Renewable Corporation is a renewable power and sustainable solutions company affiliated with Brookfield Asset Management. It develops, owns, and operates a diversified portfolio of renewable energy and sustainable infrastructure assets, supplying electricity and related services to utilities, businesses, and other customers.

The company’s activities include hydroelectric generation, onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy-transition solutions.