JPMorgan Chase & Co. Upgrades Brookfield Renewable (NYSE:BEPC) to "Overweight"

JPMorgan Chase & Co. upgraded shares of Brookfield Renewable (NYSE:BEPC - Free Report) from a neutral rating to an overweight rating in a report issued on Thursday morning, Marketbeat.com reports. The firm currently has $34.00 target price on the stock, up from their prior target price of $32.00.

Brookfield Renewable Trading Down 1.0 %

NYSE BEPC traded down $0.31 on Thursday, hitting $29.58. The company's stock had a trading volume of 714,440 shares, compared to its average volume of 959,714. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.89. Brookfield Renewable has a 1-year low of $21.35 and a 1-year high of $35.14. The company's 50-day moving average is $31.28 and its 200 day moving average is $30.10. The firm has a market cap of $5.31 billion, a PE ratio of -36.45 and a beta of 1.19.

Brookfield Renewable (NYSE:BEPC - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Brookfield Renewable had a net margin of 1.16% and a return on equity of 0.43%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the company posted ($0.14) earnings per share. As a group, analysts predict that Brookfield Renewable will post -1.04 earnings per share for the current fiscal year.

Brookfield Renewable Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, November 29th will be given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Friday, November 29th. Brookfield Renewable's dividend payout ratio (DPR) is presently -173.17%.

Institutional Investors Weigh In On Brookfield Renewable

Several large investors have recently modified their holdings of the company. Harvest Portfolios Group Inc. grew its holdings in Brookfield Renewable by 15.0% in the third quarter. Harvest Portfolios Group Inc. now owns 298,098 shares of the company's stock worth $9,733,000 after purchasing an additional 38,853 shares during the period. Bank of Montreal Can grew its holdings in Brookfield Renewable by 1.4% in the third quarter. Bank of Montreal Can now owns 1,139,177 shares of the company's stock worth $37,444,000 after purchasing an additional 16,033 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Brookfield Renewable by 17.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 181,310 shares of the company's stock worth $5,922,000 after purchasing an additional 27,550 shares during the period. Pacifica Partners Inc. grew its holdings in Brookfield Renewable by 105.1% in the third quarter. Pacifica Partners Inc. now owns 58,698 shares of the company's stock worth $1,920,000 after purchasing an additional 30,080 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Brookfield Renewable by 135.3% in the third quarter. Intech Investment Management LLC now owns 103,699 shares of the company's stock worth $3,390,000 after purchasing an additional 59,630 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.