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

Brookfield Renewable (NYSE:BEPC) had its target price lowered by JPMorgan Chase & Co. from $34.00 to $32.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 29.08% from the company’s previous close.

Brookfield Renewable Stock Up 0.7 %

NYSE:BEPC traded up $0.17 during mid-day trading on Thursday, hitting $24.79. The stock had a trading volume of 390,914 shares, compared to its average volume of 1,034,321. Brookfield Renewable has a twelve month low of $21.35 and a twelve month high of $35.14. The stock has a 50-day simple moving average of $28.99 and a two-hundred day simple moving average of $29.57. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $3.59 billion, a PE ratio of -30.19 and a beta of 1.23.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.04). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.37 billion. Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. During the same quarter in the previous year, the business posted ($0.14) earnings per share. On average, equities research analysts anticipate that Brookfield Renewable will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Brookfield Renewable

Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Brookfield Renewable by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,091,091 shares of the company’s stock valued at $59,359,000 after acquiring an additional 191,550 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of Brookfield Renewable by 26.2% in the 2nd quarter. Sei Investments Co. now owns 23,662 shares of the company’s stock valued at $672,000 after purchasing an additional 4,916 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Brookfield Renewable by 93.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 5,519 shares of the company’s stock valued at $157,000 after purchasing an additional 2,661 shares during the period. Public Sector Pension Investment Board grew its stake in Brookfield Renewable by 38.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 17,672 shares of the company’s stock worth $501,000 after buying an additional 4,940 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in Brookfield Renewable by 577.1% during the second quarter. Squarepoint Ops LLC now owns 104,266 shares of the company’s stock worth $2,959,000 after buying an additional 88,867 shares during the period. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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.