Brookfield Renewable (NYSE:BEPC) PT Lowered to $32.00

Brookfield Renewable (NYSE:BEPC) had its price target cut by JPMorgan Chase & Co. from $34.00 to $32.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 1.99% from the company’s current price.

Brookfield Renewable Stock Performance

Shares of NYSE:BEPC traded down $0.09 during trading on Thursday, reaching $32.65. The company had a trading volume of 184,621 shares, compared to its average volume of 942,655. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of -70.78 and a beta of 1.19. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s fifty day moving average price is $29.63 and its 200 day moving average price is $28.73. Brookfield Renewable has a fifty-two week low of $21.35 and a fifty-two week high of $33.17.

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 company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. As a group, equities research analysts predict that Brookfield Renewable will post -1.02 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BEPC. Hexagon Capital Partners LLC boosted its position in Brookfield Renewable by 468.4% during the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock worth $25,000 after purchasing an additional 623 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Brookfield Renewable by 161.9% during the first quarter. Gulf International Bank UK Ltd now owns 1,197 shares of the company’s stock worth $29,000 after purchasing an additional 740 shares in the last quarter. Beach Investment Counsel Inc. PA purchased a new stake in Brookfield Renewable during the second quarter worth $46,000. Abich Financial Wealth Management LLC boosted its position in Brookfield Renewable by 49.7% during the first quarter. Abich Financial Wealth Management LLC now owns 1,783 shares of the company’s stock worth $44,000 after purchasing an additional 592 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in Brookfield Renewable by 111.1% during the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the company’s stock worth $47,000 after purchasing an additional 1,000 shares in the last quarter. 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.