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

Brookfield Renewable (NYSE:BEPC) had its price objective upped by analysts at JPMorgan Chase & Co. from $33.00 to $34.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 5.85% from the company’s previous close.

Brookfield Renewable Trading Up 0.8 %

NYSE BEPC opened at $32.12 on Wednesday. The company has a fifty day simple moving average of $28.70 and a two-hundred day simple moving average of $28.01. The stock has a market cap of $5.77 billion, a P/E ratio of -69.82 and a beta of 1.18. Brookfield Renewable has a 12-month low of $21.35 and a 12-month high of $32.83. 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 (NYSE:BEPC) last released its quarterly earnings data on Friday, August 2nd. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. On average, analysts forecast that Brookfield Renewable will post -1.02 earnings per share for the current year.

Institutional Trading of Brookfield Renewable

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Parnassus Investments LLC increased its stake in shares of Brookfield Renewable by 182.9% in the fourth quarter. Parnassus Investments LLC now owns 6,491,404 shares of the company’s stock worth $186,888,000 after acquiring an additional 4,196,415 shares during the period. Vanguard Group Inc. increased its stake in shares of Brookfield Renewable by 0.9% in the first quarter. Vanguard Group Inc. now owns 5,244,258 shares of the company’s stock worth $128,851,000 after acquiring an additional 47,139 shares during the period. Principal Financial Group Inc. grew its position in Brookfield Renewable by 1.7% during the second quarter. Principal Financial Group Inc. now owns 4,757,977 shares of the company’s stock valued at $135,031,000 after buying an additional 80,350 shares during the period. Dimensional Fund Advisors LP grew its position in Brookfield Renewable by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock valued at $59,359,000 after buying an additional 191,550 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in Brookfield Renewable by 50.6% during the fourth quarter. Epoch Investment Partners Inc. now owns 2,083,864 shares of the company’s stock valued at $59,994,000 after buying an additional 699,739 shares during the period. 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.