Brookfield Renewable (NYSE:BEPC) Stock Price Target Lowered at Morgan Stanley

Brookfield Renewable (NYSE:BEPC) had its target price decreased by investment analysts at Morgan Stanley from $42.00 to $37.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 29.25% from the stock’s previous close.

Several other research analysts have also commented on BEPC. Weiss Ratings restated a “sell (e+)” rating on shares of Brookfield Renewable in a report on Friday, July 31st. Barclays lifted their price target on shares of Brookfield Renewable from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered shares of Brookfield Renewable from a “hold” rating to a “sell” rating in a research report on Sunday, August 9th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $37.33.

Brookfield Renewable Trading Down 2.3%

Shares of NYSE BEPC traded down $0.67 during midday trading on Tuesday, hitting $28.63. The stock had a trading volume of 1,050,235 shares, compared to its average volume of 1,506,092. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.40 and a current ratio of 0.40. Brookfield Renewable has a 1-year low of $27.57 and a 1-year high of $45.18. The company has a fifty day moving average price of $31.39 and a 200 day moving average price of $35.49.

Hedge Funds Weigh In On Brookfield Renewable

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Paragon Capital Management Ltd boosted its holdings in Brookfield Renewable by 9.6% in the 3rd quarter. Paragon Capital Management Ltd now owns 35,437 shares of the company’s stock worth $1,000,000 after acquiring an additional 3,098 shares during the period. Pacifica Partners Inc. grew its position in Brookfield Renewable by 7,784.0% in the third quarter. Pacifica Partners Inc. now owns 39,420 shares of the company’s stock valued at $1,117,000 after acquiring an additional 38,920 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Brookfield Renewable by 23.8% during the third quarter. GAMMA Investing LLC now owns 3,194 shares of the company’s stock valued at $90,000 after purchasing an additional 613 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Brookfield Renewable by 53.4% during the third quarter. Farther Finance Advisors LLC now owns 23,445 shares of the company’s stock valued at $662,000 after purchasing an additional 8,160 shares during the period. Finally, Plan A Wealth LLC lifted its position in shares of Brookfield Renewable by 2.9% during the third quarter. Plan A Wealth LLC now owns 18,757 shares of the company’s stock worth $529,000 after purchasing an additional 524 shares in the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.

About Brookfield Renewable

Brookfield Renewable Corporation is a renewable power and sustainable solutions company affiliated with Brookfield Asset Management. It develops, owns, and operates a diversified portfolio of renewable energy and sustainable infrastructure assets, supplying electricity and related services to utilities, businesses, and other customers.

The company’s activities include hydroelectric generation, onshore and offshore wind, utility-scale and distributed solar, battery storage, and other energy-transition solutions.