This report is an updated version of the report published on 10 June 2025.

Brookfield Renewable Corporation (NYSE: BEPC)

BEPC operates renewable power platforms and sustainable solutions. Its portfolio consists of hydroelectric, wind, solar and storage facilities in North America, South America, Europe and Asia.

Recommendation Rationale – SELL at USD 31.83 

• Financial Highlights: In Q1FY25, BEPC’s revenue dropped to USD 907mn from USD 1,125mn in Q1FY24, primarily due to reduced hydroelectric generation and other segment challenges. Consequently, BEPC reported a net loss of USD 5mn in Q1FY25, a significant decline from the USD 491mn profit in Q1FY24.
• Trading Near the Resistance: BEPC stock has surpassed its R1 level recommended on 30 April 2025 and its 14-day Relative Strength Index (RSI), currently at ~65.87, is approaching overbought zone. Therefore, share price can face resistance at the current levels.
• Overvalued Multiples: On a forward 12-month basis – key trading multiples (EV/Sales, EV/EBITDA, Price/Book, Price/Cash Flow) are higher than the median of Utilities sector.
• Market Risk: Rapid technological changes in renewable energy and storage solutions may disrupt existing assets or require additional investment to remain competitive.

BEPC’s Daily Price Chart

 Valuation Methodology: EV/Sales Approach (FY December'25E) (Illustrative)

Stock might trade at a slight discount to its peers considering the YoY decrease in revenue in Q1FY25, negative bottom line, and reduced funds from operations (FFO) in Q1FY25. For conducting the valuation, the following peers have been considered: XPLR Infrastructure LP (NYSE: XIFR), Ormat Technologies Inc (NYSE: ORA), Renew Energy Global PLC (NASDAQ: RNW) and others have been considered.

Considering that the stock has surpassed its R1 level, rally in share price, current trading level, and risks associated, the share price can face consolidation at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the closing market price of USD 31.83, as of 9 June 2025.                     

Brookfield Renewable Corporation (NYSE: BEPC) is a part of Global Green Energy Portfolio. 

Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing. 

Note 1: Past performance is neither an indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 9 June 2025. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Kalkine reports are prepared based on the stock prices captured either from REFINITIV or Trading View. Typically, REFINITIV or Trading View may reflect stock prices with a delay which could be a lag of 25-30 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 5: Dividend Yield may vary as per the stock price movement. 

Technical Indicators Defined: -

Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.

Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.