Brookfield Renewable (NYSE:BEPC) Given New $33.00 Price Target at Wells Fargo & Company

Brookfield Renewable (NYSE:BEPC) had its price objective reduced by Wells Fargo & Company from $35.00 to $33.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Separately, JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd.

Brookfield Renewable Trading Up 2.8 %

Shares of BEPC stock opened at $27.13 on Monday. Brookfield Renewable has a 12-month low of $21.35 and a 12-month high of $35.14. The company has a market capitalization of $3.93 billion, a PE ratio of -30.48 and a beta of 1.22. The firm has a 50 day moving average price of $27.89 and a two-hundred day moving average price of $29.29. 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 quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%. As a group, analysts predict that Brookfield Renewable will post -1.62 earnings per share for the current year.

Brookfield Renewable Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, February 28th will be paid a $0.373 dividend. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. This represents a $1.49 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend is Friday, February 28th. Brookfield Renewable’s payout ratio is -159.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BEPC. Hexagon Capital Partners LLC grew its stake in Brookfield Renewable by 468.4% during the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after buying an additional 623 shares in the last quarter. Truvestments Capital LLC bought a new stake in shares of Brookfield Renewable during the 3rd quarter worth approximately $31,000. Spirit of America Management Corp NY boosted its position in shares of Brookfield Renewable by 87.0% during the 4th quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock worth $59,000 after acquiring an additional 1,000 shares in the last quarter. Signaturefd LLC increased its stake in Brookfield Renewable by 250.7% in the third quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock valued at $72,000 after acquiring an additional 1,567 shares during the last quarter. Finally, US Bancorp DE raised its position in Brookfield Renewable by 99.4% during the third quarter. US Bancorp DE now owns 3,041 shares of the company’s stock valued at $99,000 after purchasing an additional 1,516 shares in the last quarter. 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.