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

Brookfield Renewable (NYSE:BEPC) had its price target raised by JPMorgan Chase & Co. from $33.00 to $34.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 5.36% from the stock’s current price.

Brookfield Renewable Trading Up 2.1 %

NYSE:BEPC traded up $0.65 during trading hours on Wednesday, reaching $32.27. The company’s stock had a trading volume of 248,595 shares, compared to its average volume of 953,585. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of -70.15 and a beta of 1.18. The firm has a 50-day simple moving average of $28.58 and a 200-day simple moving average of $27.95. Brookfield Renewable has a 1 year low of $21.35 and a 1 year high of $32.83. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.40 and a current ratio of 0.40.

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 business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Brookfield Renewable had a return on equity of 0.79% and a net margin of 2.37%. Research analysts expect that Brookfield Renewable will post -1.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Renewable

Hedge funds have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Brookfield Renewable in the fourth quarter valued at about $30,000. Gulf International Bank UK Ltd increased its position in shares of Brookfield Renewable by 161.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock valued at $29,000 after acquiring an additional 740 shares during the period. Beach Investment Counsel Inc. PA bought a new stake in shares of Brookfield Renewable during the 2nd quarter valued at about $46,000. Abich Financial Wealth Management LLC boosted its stake in shares of Brookfield Renewable by 49.7% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock valued at $44,000 after purchasing an additional 592 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Brookfield Renewable by 111.1% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock valued at $47,000 after purchasing an additional 1,000 shares in the last quarter. 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.