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

Brookfield Renewable (NYSE:BEPC) had its target price reduced by JPMorgan Chase & Co. from $34.00 to $32.00 in a research note released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Brookfield Renewable Stock Up 2.5 %

Shares of BEPC opened at $25.60 on Thursday. The company has a market capitalization of $3.71 billion, a P/E ratio of -31.22 and a beta of 1.23. Brookfield Renewable has a one year low of $21.35 and a one year high of $35.14. The business’s 50 day simple moving average is $28.79 and its 200-day simple moving average is $29.52. 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 results on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned ($0.14) EPS. As a group, sell-side analysts predict that Brookfield Renewable will post -1.04 EPS for the current fiscal year.

Brookfield Renewable Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, November 29th were given a $0.355 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.42 dividend on an annualized basis and a yield of 5.55%. Brookfield Renewable’s payout ratio is -173.17%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC lifted its holdings in Brookfield Renewable by 468.4% in the third quarter. Hexagon Capital Partners LLC now owns 756 shares of the company’s stock valued at $25,000 after buying an additional 623 shares during the period. Truvestments Capital LLC acquired a new position in shares of Brookfield Renewable in the 3rd quarter valued at $31,000. Signaturefd LLC boosted its position in shares of Brookfield Renewable by 250.7% in the 3rd quarter. Signaturefd LLC now owns 2,192 shares of the company’s stock worth $72,000 after purchasing an additional 1,567 shares during the last quarter. US Bancorp DE grew its stake in shares of Brookfield Renewable by 99.4% during the third quarter. US Bancorp DE now owns 3,041 shares of the company’s stock worth $99,000 after purchasing an additional 1,516 shares during the period. Finally, Quarry LP bought a new stake in Brookfield Renewable in the third quarter valued at about $133,000. 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.