Thursday, February 25, 2021

why Brookfield Renewable Corporation [BEPC] is a Good Choice for Investors After New Price Target of $52.50

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Brookfield Renewable Corporation [NYSE: BEPC] plunged by -$1.79 during the normal trading session on Thursday and reaching a high of $51.34 during the day while it closed the day at $50.25. The company report on February 11, 2021 that Brookfield Renewable Announces Pricing of Secondary Public Offering.

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Brookfield Renewable Partners L.P. (the “Partnership”) (NYSE: BEP; TSX: BEP.UN), Brookfield Renewable Corporation (“BEPC” and together with the Partnership, “Brookfield Renewable”) (NYSE/TSX: BEPC) and Brookfield Asset Management Inc. (“Brookfield Asset Management”) (NYSE: BAM; TSX: BAM.A) announced the pricing of the previously announced secondary public offering of 15,000,000 class A exchangeable subordinate voting shares (the “Exchangeable Shares”) of BEPC at a price of $51.50 per share by subsidiaries of Brookfield Asset Management (the “Selling Shareholders”). The offering is expected to close on February 16, 2021, subject to customary closing conditions. In addition, one of the Selling Shareholders has granted the underwriters a 30-day option to purchase up to 2,250,000 additional Exchangeable Shares. Brookfield Renewable is not issuing any Exchangeable Shares in the offering and will not receive any of the proceeds from the offering.

Brookfield Renewable Corporation stock has also loss -7.27% of its value over the past 7 days. However, BEPC stock has inclined by 6.63% in the 3 months of the year. Over the past six months meanwhile, it has gained 59.29% and lost -13.76% year-on date.

The market cap for BEPC stock reached $17.44 billion, with 172.18 million shares outstanding and 96.41 million shares in the current float. Compared to the average trading volume of 679.64K shares, BEPC reached a trading volume of 6037708 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Brookfield Renewable Corporation [BEPC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BEPC shares is $52.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BEPC stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for Brookfield Renewable Corporation shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on January 06, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $55 to $60. The new note on the price target was released on October 08, 2020, representing the official price target for Brookfield Renewable Corporation stock. Previously, the target price had yet another raise to $51, while Wells Fargo analysts kept a Overweight rating on BEPC stock.

The Average True Range (ATR) for Brookfield Renewable Corporation is set at 2.56, with the Price to Sales ratio for BEPC stock in the period of the last 12 months amounting to 5.65. The Price to Book ratio for the last quarter was 7.35, with the Price to Cash per share for the same quarter was set at 1.02. Price to Free Cash Flow for BEPC in the course of the last twelve months was 28.17 with Quick ratio for the last quarter at 0.50.

BEPC stock trade performance evaluation

Brookfield Renewable Corporation [BEPC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.27. With this latest performance, BEPC shares dropped by -15.49% in over the last four-week period, additionally plugging by 59.29% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BEPC stock in for the last two-week period is set at 33.20, with the RSI for the last a single of trading hit 26.53, and the three-weeks RSI is set at 38.91 for Brookfield Renewable Corporation [BEPC]. The present Moving Average for the last 50 days of trading for this stock 55.02, while it was recorded at 53.89 for the last single week of trading.

Brookfield Renewable Corporation [BEPC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Brookfield Renewable Corporation [BEPC] shares currently have an operating margin of +26.21 and a Gross Margin at +31.13. Brookfield Renewable Corporation’s Net Margin is presently recorded at -88.69.

Return on Total Capital for BEPC is now 3.59, given the latest momentum, and Return on Invested Capital for the company is -20.05. Return on Equity for this stock declined to -61.36, with Return on Assets sitting at -8.58. When it comes to the capital structure of this company, Brookfield Renewable Corporation [BEPC] has a Total Debt to Total Equity ratio set at 1,089.38. Additionally, BEPC Total Debt to Total Capital is recorded at 91.59, with Total Debt to Total Assets ending up at 32.48. Long-Term Debt to Equity for the company is recorded at 1,089.38, with the Long-Term Debt to Total Capital now at 91.59.

Receivables Turnover for the company is 3.46 with a Total Asset Turnover recorded at a value of 0.10.Brookfield Renewable Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Brookfield Renewable Corporation [BEPC]: Insider Ownership positions

There are presently around $6,960 million, or 75.00% of BEPC stock, in the hands of institutional investors. The top three institutional holders of BEPC stocks are: BROOKFIELD ASSET MANAGEMENT INC. with ownership of 66,808,710, which is approximately 288.709% of the company’s market cap and around 33.01% of the total institutional ownership; FMR LLC, holding 10,905,287 shares of the stock with an approximate value of $547.99 million in BEPC stocks shares; and FIL LTD, currently with $449.19 million in BEPC stock with ownership of nearly -28.979% of the company’s market capitalization.

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182 institutional holders increased their position in Brookfield Renewable Corporation [NYSE:BEPC] by around 80,584,985 shares. Additionally, 118 investors decreased positions by around 9,874,482 shares, while 22 investors held positions by with 48,055,472 shares. The mentioned changes placed institutional holdings at 138,514,939 shares, according to the latest SEC report filing. BEPC stock had 97 new institutional investments in for a total of 10,340,399 shares, while 32 institutional investors sold positions of 393,012 shares during the same period.

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