JPMorgan Chase & Co. Increases Brookfield Renewable (NYSE:BEPC) Price Target to $34.00

Brookfield Renewable (NYSE:BEPC) had its price objective increased by JPMorgan Chase & Co. from $33.00 to $34.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Brookfield Renewable Trading Up 2.4 %

BEPC opened at $32.89 on Wednesday. The company has a market cap of $5.91 billion, a P/E ratio of -71.50 and a beta of 1.18. The company has a fifty day moving average price of $28.80 and a two-hundred day moving average price of $28.06. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. Brookfield Renewable has a 1-year low of $21.35 and a 1-year high of $33.03.

Brookfield Renewable (NYSE:BEPC) last issued its earnings results on Friday, August 2nd. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. Analysts predict that Brookfield Renewable will post -1.02 EPS for the current fiscal year.

Brookfield Renewable Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, August 30th. Brookfield Renewable’s dividend payout ratio is currently -308.70%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Parnassus Investments LLC grew its holdings in shares of Brookfield Renewable by 182.9% during the fourth quarter. Parnassus Investments LLC now owns 6,491,404 shares of the company’s stock valued at $186,888,000 after buying an additional 4,196,415 shares during the last quarter. Vanguard Group Inc. boosted its stake in Brookfield Renewable by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company’s stock valued at $128,851,000 after purchasing an additional 47,139 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Brookfield Renewable by 1.7% during the 2nd quarter. Principal Financial Group Inc. now owns 4,757,977 shares of the company’s stock worth $135,031,000 after purchasing an additional 80,350 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Brookfield Renewable by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock worth $59,359,000 after purchasing an additional 191,550 shares during the last quarter. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of Brookfield Renewable by 50.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 2,083,864 shares of the company’s stock valued at $59,994,000 after purchasing an additional 699,739 shares in the last quarter. Institutional investors and hedge funds 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.