Barclays Initiates Coverage on Brookfield Renewable (NYSE:BEPC)

Barclays started coverage on shares of Brookfield Renewable (NYSE:BEPC) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm issued an equal weight rating on the stock.

Other equities analysts have also issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of Brookfield Renewable from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price objective on shares of Brookfield Renewable from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd.

Brookfield Renewable Stock Performance

Shares of NYSE BEPC opened at $28.52 on Wednesday. Brookfield Renewable has a 12-month low of $21.35 and a 12-month high of $35.14. The company has a market cap of $4.13 billion, a PE ratio of -32.04 and a beta of 1.20. The stock has a 50 day simple moving average of $27.62 and a 200-day simple moving average of $29.25. The company has a current ratio of 0.27, a quick ratio of 0.51 and a debt-to-equity ratio of 0.89.

Brookfield Renewable (NYSE:BEPC) last released its quarterly earnings results on Friday, January 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.27. Brookfield Renewable had a negative return on equity of 0.06% and a negative net margin of 0.15%.

Brookfield Renewable Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were paid a dividend of $0.373 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $1.49 annualized dividend and a yield of 5.23%. This is a boost from Brookfield Renewable’s previous quarterly dividend of $0.36. Brookfield Renewable’s dividend payout ratio (DPR) is currently -167.42%.

Institutional Investors Weigh In On Brookfield Renewable

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Curio Wealth LLC acquired a new position in shares of Brookfield Renewable in the 4th quarter worth approximately $26,000. Atala Financial Inc bought a new stake in Brookfield Renewable during the fourth quarter worth approximately $27,000. MassMutual Private Wealth & Trust FSB grew its position in Brookfield Renewable by 43.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,244 shares of the company’s stock worth $35,000 after buying an additional 374 shares during the last quarter. Dunhill Financial LLC acquired a new position in Brookfield Renewable in the fourth quarter worth approximately $41,000. Finally, Measured Risk Portfolios Inc. bought a new position in shares of Brookfield Renewable in the fourth quarter valued at $52,000. 75.12% of the stock is currently owned by institutional investors.

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.