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

Brookfield Renewable (NYSE:BEPC) had its price target decreased by equities research analysts at JPMorgan Chase & Co. from $34.00 to $32.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 29.08% from the stock’s current price.

Brookfield Renewable Price Performance

Shares of BEPC stock traded up $0.17 during trading hours on Thursday, hitting $24.79. 390,914 shares of the company’s stock were exchanged, compared to its average volume of 1,034,321. Brookfield Renewable has a fifty-two week low of $21.35 and a fifty-two week high of $35.14. The firm has a market cap of $3.59 billion, a P/E ratio of -30.19 and a beta of 1.23. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. The firm has a 50 day moving average of $28.99 and a two-hundred day moving average of $29.57.

Brookfield Renewable (NYSE:BEPC) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The company had revenue of $1.47 billion for the quarter, compared to analyst estimates 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 in the prior year, the company posted ($0.14) earnings per share. Sell-side analysts forecast that Brookfield Renewable will post -1.04 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Green Alpha Advisors LLC lifted its stake in Brookfield Renewable by 55.8% during the fourth quarter. Green Alpha Advisors LLC now owns 138,976 shares of the company’s stock worth $3,844,000 after purchasing an additional 49,748 shares in the last quarter. Harvest Portfolios Group Inc. raised its holdings in shares of Brookfield Renewable by 15.0% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company’s stock valued at $9,733,000 after buying an additional 38,853 shares during the period. A. D. Beadell Investment Counsel Inc. lifted its stake in Brookfield Renewable by 252.7% during the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 44,265 shares of the company’s stock worth $1,224,000 after acquiring an additional 31,715 shares in the last quarter. Bank of Montreal Can lifted its stake in Brookfield Renewable by 1.4% during the 3rd quarter. Bank of Montreal Can now owns 1,139,177 shares of the company’s stock worth $37,444,000 after acquiring an additional 16,033 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in shares of Brookfield Renewable during the fourth quarter worth about $287,000. Hedge funds and other 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.