Brookfield Renewable (NYSE: BEPC) saw its stock rating upgraded by Wall Street Zen from a "sell" to a "hold" in a report released on Saturday. This move comes amid a mix of recent analyst actions on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on October 29th, while JPMorgan Chase & Co. lowered its price target from $36.00 to $32.00 and maintained a "neutral" rating on October 19th. Morgan Stanley also decreased its price target from $42.00 to $37.00, assigning an "underweight" rating on October 13th. In contrast, Barclays raised its price objective from $36.00 to $39.00 with an "equal weight" rating back in July.
The stock currently has a consensus rating of "Reduce" and a consensus target price of $36.00, according to MarketBeat. Brookfield Renewable opened at $31.72 on Friday, with a 12-month range between $27.57 and $45.18. The company's financial ratios include a current ratio of 0.40, a quick ratio of 0.40, and a debt-to-equity ratio of 2.10. Its fifty-day simple moving average stands at $29.81, while the two-hundred-day average is $36.19.
Institutional investors have been active in adjusting their positions. Baird Financial Group Inc. increased its holdings by 11.4% in the second quarter, now owning 3,335,117 shares worth $123,800,000. Edgestream Partners L.P. acquired a new position worth $10,264,000 in the first quarter. Walleye Capital LLC boosted its position by 309.4%, now holding 300,983 shares worth $11,988,000. Quantinno Capital Management LP grew its holdings by 134.8%, owning 176,687 shares valued at $7,037,000. Swiss National Bank raised its holdings by 27.0%, now owning 463,350 shares worth $18,439,000. Institutional investors collectively own 75.12% of the company's stock.
Brookfield Renewable Corporation operates a diversified portfolio of renewable energy assets, including hydroelectric, wind, solar, and distributed energy facilities, as well as energy storage and other renewable power infrastructure. The company is part of Brookfield Asset Management's global renewable power business.