Brookfield Renewable (NYSE:BEPC) Price Target Raised to $34.00 at JPMorgan Chase & Co.

Brookfield Renewable (NYSE:BEPC) had its price target increased by research analysts at JPMorgan Chase & Co. from $33.00 to $34.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 5.36% from the stock’s previous close.

Brookfield Renewable Price Performance

NYSE:BEPC traded up $0.65 during trading hours on Wednesday, hitting $32.27. The stock had a trading volume of 248,595 shares, compared to its average volume of 953,585. The company has a 50 day simple moving average of $28.58 and a two-hundred day simple moving average of $27.95. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.40 and a quick ratio of 0.40. Brookfield Renewable has a one year low of $21.35 and a one year high of $32.83. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of -70.15 and a beta of 1.18.

Brookfield Renewable (NYSE:BEPC) last announced its quarterly earnings results on Friday, August 2nd. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.01). Brookfield Renewable had a net margin of 2.37% and a return on equity of 0.79%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. Research analysts forecast that Brookfield Renewable will post -1.02 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Renewable

Several institutional investors and hedge funds have recently made changes to their positions in BEPC. Parnassus Investments LLC raised its position in shares of Brookfield Renewable by 182.9% during the 4th quarter. Parnassus Investments LLC now owns 6,491,404 shares of the company’s stock valued at $186,888,000 after buying an additional 4,196,415 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of Brookfield Renewable by 4,491.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 1,940,525 shares of the company’s stock valued at $55,072,000 after buying an additional 1,898,258 shares in the last quarter. Norges Bank purchased a new stake in shares of Brookfield Renewable during the 4th quarter valued at $46,787,000. TD Asset Management Inc raised its position in shares of Brookfield Renewable by 301.6% during the 2nd quarter. TD Asset Management Inc now owns 969,055 shares of the company’s stock valued at $27,488,000 after buying an additional 727,780 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co purchased a new stake in shares of Brookfield Renewable during the 1st quarter valued at $8,979,000. 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.