Brookfield Renewable (NYSE:BEPC) Upgraded to Overweight at JPMorgan Chase & Co.

Brookfield Renewable (NYSE:BEPC) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $34.00 price objective on the stock, up from their previous price objective of $32.00. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.29% from the stock’s current price.

Brookfield Renewable Price Performance

Shares of BEPC opened at $29.75 on Thursday. Brookfield Renewable has a 12 month low of $21.35 and a 12 month high of $35.14. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a fifty day moving average price of $31.20 and a 200 day moving average price of $30.08. The company has a market cap of $5.34 billion, a P/E ratio of -36.28 and a beta of 1.19.

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

Institutional Trading of Brookfield Renewable

Several large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its stake in shares of Brookfield Renewable by 33.9% in the third quarter. Franklin Resources Inc. now owns 151,514 shares of the company’s stock worth $4,607,000 after purchasing an additional 38,350 shares in the last quarter. Tidal Investments LLC acquired a new stake in Brookfield Renewable in the third quarter worth about $747,000. Toronto Dominion Bank grew its position in Brookfield Renewable by 0.6% in the 3rd quarter. Toronto Dominion Bank now owns 95,118 shares of the company’s stock valued at $3,107,000 after buying an additional 525 shares in the last quarter. Geode Capital Management LLC grew its position in Brookfield Renewable by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,249,866 shares of the company’s stock valued at $40,633,000 after buying an additional 25,558 shares in the last quarter. Finally, Barclays PLC increased its stake in Brookfield Renewable by 3.5% during the 3rd quarter. Barclays PLC now owns 173,871 shares of the company’s stock valued at $5,678,000 after buying an additional 5,857 shares during the period. 75.12% of the stock is currently owned by institutional investors and hedge funds.

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.