Wall Street Zen downgraded shares of Brookfield Renewable (NYSE:BEPC – Free Report) from a hold rating to a sell rating in a research note published on Sunday morning.
Several other brokerages have also recently commented on BEPC. Weiss Ratings reiterated a “sell (e+)” rating on shares of Brookfield Renewable in a research report on Friday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Monday, August 3rd. Finally, Barclays raised their price objective on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Brookfield Renewable currently has a consensus rating of “Reduce” and a consensus price target of $39.00.
View Our Latest Report on Brookfield Renewable
Brookfield Renewable Price Performance
Brookfield Renewable Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.392 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.57 annualized dividend and a yield of 4.5%.
Hedge Funds Weigh In On Brookfield Renewable
Institutional investors have recently modified their holdings of the stock. Motiv8 Investments LLC acquired a new stake in shares of Brookfield Renewable in the 4th quarter valued at approximately $25,000. Torren Management LLC acquired a new position in Brookfield Renewable during the fourth quarter valued at approximately $26,000. Allied Private Wealth LLC acquired a new position in Brookfield Renewable during the second quarter valued at approximately $27,000. SHP Wealth Management bought a new stake in Brookfield Renewable in the fourth quarter valued at approximately $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Brookfield Renewable in the second quarter valued at approximately $33,000. 75.12% of the stock is currently owned by institutional investors and hedge funds.
About Brookfield Renewable
Brookfield Renewable Corporation (NYSE: BEPC) is a leading global owner, operator and developer of renewable power assets. Through its preferred equity securities, BEPC provides investors with exposure to a diversified portfolio of hydropower, wind, solar and energy storage facilities that are underpinned by long-term contractual revenues. The company focuses on delivering clean energy to wholesale and retail markets across multiple jurisdictions, leveraging the experience and financial backing of its parent, Brookfield Asset Management.
The company’s operations span North America, South America, Europe and Asia-Pacific, with more than 23,000 megawatts of operational capacity.
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