Wells Fargo & Company Cuts Brookfield Renewable (NYSE:BEPC) Price Target to $33.00

Brookfield Renewable (NYSE:BEPC) had its target price reduced by Wells Fargo & Company from $35.00 to $33.00 in a research note released on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, JPMorgan Chase & Co. reduced their price objective 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 Stock Up 2.8 %

NYSE BEPC opened at $27.13 on Monday. The stock’s 50 day simple moving average is $27.89 and its 200 day simple moving average is $29.29. Brookfield Renewable has a one year low of $21.35 and a one year high of $35.14. The firm has a market cap of $3.93 billion, a PE ratio of -30.48 and a beta of 1.22. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51.

Brookfield Renewable (NYSE:BEPC) last issued its quarterly earnings data on Friday, January 31st. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.27. Brookfield Renewable had a negative net margin of 0.15% and a negative return on equity of 0.06%. As a group, sell-side analysts forecast that Brookfield Renewable will post -1.62 earnings per share for the current fiscal year.

Brookfield Renewable Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BEPC. Hexagon Capital Partners LLC raised its holdings in shares of Brookfield Renewable by 468.4% in the 3rd quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock valued at $25,000 after purchasing an additional 623 shares during the period. Truvestments Capital LLC bought a new stake in Brookfield Renewable in the third quarter valued at approximately $31,000. Spirit of America Management Corp NY lifted its position in shares of Brookfield Renewable by 87.0% in the fourth quarter. Spirit of America Management Corp NY now owns 2,150 shares of the company’s stock valued at $59,000 after buying an additional 1,000 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Brookfield Renewable by 250.7% during the 3rd quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after acquiring an additional 1,567 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Brookfield Renewable by 99.4% during the 3rd quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after acquiring an additional 1,516 shares during the last quarter. 75.12% of the stock is currently owned by 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.