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

Brookfield Renewable (NYSE:BEPC) had its price target trimmed by JPMorgan Chase & Co. from $34.00 to $32.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

Brookfield Renewable Price Performance

NYSE:BEPC opened at $33.21 on Thursday. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -72.20 and a beta of 1.19. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average is $29.83 and its two-hundred day moving average is $28.88. Brookfield Renewable has a 12-month low of $21.35 and a 12-month high of $33.32.

Brookfield Renewable (NYSE:BEPC) last released its earnings results on Friday, August 2nd. The company reported ($0.28) earnings per share (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 analysts’ expectations of $1.51 billion. Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. Research analysts expect that Brookfield Renewable will post -1.02 EPS for the current year.

Brookfield Renewable Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.355 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.42 annualized dividend and a dividend yield of 4.28%. Brookfield Renewable’s payout ratio is currently -308.70%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of Brookfield Renewable by 9.5% during the 2nd quarter. CWM LLC now owns 4,069 shares of the company’s stock worth $115,000 after acquiring an additional 353 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Brookfield Renewable by 1.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 29,126 shares of the company’s stock worth $827,000 after acquiring an additional 446 shares during the period. Smith Salley Wealth Management lifted its holdings in shares of Brookfield Renewable by 2.2% during the 2nd quarter. Smith Salley Wealth Management now owns 26,470 shares of the company’s stock worth $751,000 after acquiring an additional 563 shares during the period. Abich Financial Wealth Management LLC lifted its holdings 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 worth $44,000 after acquiring an additional 592 shares during the period. Finally, Lazard Asset Management LLC lifted its holdings in shares of Brookfield Renewable by 10.2% during the 1st quarter. Lazard Asset Management LLC now owns 6,465 shares of the company’s stock worth $158,000 after acquiring an additional 597 shares during the period. 75.12% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Company Profile

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.