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

Brookfield Renewable (NYSE:BEPC) had its target price reduced by JPMorgan Chase & Co. from $34.00 to $32.00 in a research note released on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

Brookfield Renewable Stock Up 1.6 %

Shares of BEPC stock opened at $25.01 on Thursday. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -30.50 and a beta of 1.23. Brookfield Renewable has a 12-month low of $21.35 and a 12-month high of $35.14. The firm has a fifty day moving average of $28.88 and a 200-day moving average of $29.54. 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 (NYSE:BEPC) last released its earnings results on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.37 billion. Brookfield Renewable had a return on equity of 0.43% and a net margin of 1.16%. During the same quarter last year, the company posted ($0.14) EPS. As a group, equities research analysts predict that Brookfield Renewable will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, November 29th were given a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date was Friday, November 29th. Brookfield Renewable’s dividend payout ratio (DPR) is currently -173.17%.

Institutional Trading of Brookfield Renewable

A number of hedge funds and other institutional investors have recently made changes to their positions in BEPC. CIBC Asset Management Inc grew its position in Brookfield Renewable by 26.0% in the third quarter. CIBC Asset Management Inc now owns 2,443,111 shares of the company’s stock valued at $81,291,000 after purchasing an additional 504,060 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Brookfield Renewable by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock valued at $59,359,000 after acquiring an additional 191,550 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Brookfield Renewable by 13.3% in the second quarter. Clearbridge Investments LLC now owns 1,556,531 shares of the company’s stock valued at $44,179,000 after acquiring an additional 182,717 shares during the last quarter. Millennium Management LLC raised its holdings in Brookfield Renewable by 219.6% during the second quarter. Millennium Management LLC now owns 233,187 shares of the company’s stock worth $6,614,000 after acquiring an additional 160,216 shares in the last quarter. Finally, AXA S.A. boosted its position in Brookfield Renewable by 28.6% during the second quarter. AXA S.A. now owns 692,961 shares of the company’s stock valued at $19,666,000 after purchasing an additional 154,270 shares during the last quarter. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.