Down 30% and Still Growing its Payout: 1 Canadian Stock I'd Snap Up
Brookfield Renewable looks undervalued, with massive scale, inflation-linked contracts, and U.S. policy tailwinds that could drive steady income and multi-year growth.
When seeking investment opportunities, it can be challenging to decide which companies will rise to the top. However, Brookfield Renewable Partners (TSX:BEP.UN) is a top contender. Despite being down from its 2021 highs due to shifting sentiment towards renewable energy infrastructure, the company remains a promising long-term investment.
The drop in stock price presents a "buying the dip" moment, as the business is built on clean power assets.
Brookfield Renewable has massive scale, inflation-linked contracts, and U.S. policy tailwinds that could drive steady income and multi-year growth.
With interest rates rising, inflation pushing up costs, and investors questioning the timing of growth, the sentiment towards renewable energy infrastructure has shifted. Yet, for a long-term investor, this shift can be beneficial.
Author's summary: Brookfield Renewable Partners is a promising investment opportunity.
- Massive scale
- Inflation-linked contracts
- U.S. policy tailwinds