Brookfield Renewable Corporation [NYSE: BEPC] stock went on an upward path that rose over 3.28% on Friday, amounting to a one-week price increase of more than 1.61%. The company report on June 23, 2021 that Brookfield Renewable Corporation Announces Results of Annual Meeting of Shareholders.
Brookfield Renewable Corporation (the “Corporation”) (TSX, NYSE: BEPC) announced that all nine nominees proposed for election to the board of directors by holders of class A exchangeable subordinate voting shares (“Exchangeable Shares”) and holders of class B multiple voting shares (“Class B Shares”) were elected at the company’s annual meeting of shareholders held on June 22, 2021 in a virtual meeting format. Detailed results of the vote for the election of directors are set out below.
In accordance with the Corporation’s articles, each Exchangeable Share was entitled to one vote per share, representing a 25% voting interest in the Corporation in the aggregate, and the Class B Shares were entitled to a total of 516,630,939 votes in the aggregate, representing a 75% voting interest in the Corporation.
The one-year Brookfield Renewable Corporation stock forecast points to a potential upside of 18.53. The average equity rating for BEPC stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $14.13 billion, with 172.20 million shares outstanding and 127.33 million shares in the current float. Compared to the average trading volume of 946.38K shares, BEPC stock reached a trading volume of 15446327 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $49.50 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 Overweight, with their previous recommendation back on April 26, 2021. The new note on the price target was released on March 31, 2021, representing the official price target for Brookfield Renewable Corporation stock. On October 08, 2020, analysts increased their price target for BEPC shares from 55 to 60.
The Average True Range (ATR) for Brookfield Renewable Corporation is set at 1.25, with the Price to Sales ratio for BEPC stock in the period of the last 12 months amounting to 4.60. The Price to Book ratio for the last quarter was 8.53, with the Price to Cash per share for the same quarter was set at 0.85.
BEPC Stock Performance Analysis:
Brookfield Renewable Corporation [BEPC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.61. With this latest performance, BEPC shares dropped by -7.50% in over the last four-week period, additionally sinking by -30.70% 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 45.31, with the RSI for the last a single of trading hit 45.85, and the three-weeks RSI is set at 45.07 for Brookfield Renewable Corporation [BEPC]. The present Moving Average for the last 50 days of trading for this stock 41.59, while it was recorded at 40.00 for the last single week of trading, and 46.35 for the last 200 days.
Insight into Brookfield Renewable Corporation 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 +36.28. Brookfield Renewable Corporation’s Net Margin is presently recorded at -88.69.
Return on Total Capital for BEPC is now 3.56, given the latest momentum, and Return on Invested Capital for the company is -20.44. 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 1,122.68. Additionally, BEPC Total Debt to Total Capital is recorded at 91.82, with Total Debt to Total Assets ending up at 33.48. Long-Term Debt to Equity for the company is recorded at 1,044.86, with the Long-Term Debt to Total Capital now at 85.46.
Receivables Turnover for the company is 4.24 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 0.20 and a Current Ratio set at 0.20.
Brookfield Renewable Corporation [BEPC] Insider Position Details
There are presently around $5,180 million, or 81.30% 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 44,813,835, which is approximately -25.078% of the company’s market cap and around 44.07% of the total institutional ownership; FMR LLC, holding 13,143,568 shares of the stock with an approximate value of $530.08 million in BEPC stocks shares; and MANUFACTURERS LIFE INSURANCE COMPANY, THE, currently with $311.65 million in BEPC stock with ownership of nearly 57.491% of the company’s market capitalization.
Positions in Brookfield Renewable Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 190 institutional holders increased their position in Brookfield Renewable Corporation [NYSE:BEPC] by around 20,436,009 shares. Additionally, 130 investors decreased positions by around 22,409,552 shares, while 46 investors held positions by with 85,586,157 shares. The mentioned changes placed institutional holdings at 128,431,718 shares, according to the latest SEC report filing. BEPC stock had 58 new institutional investments in for a total of 3,151,985 shares, while 48 institutional investors sold positions of 996,421 shares during the same period.