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 notable exception.
The Canadian stock has dropped from its 2021 highs due to shifting sentiment toward renewable energy infrastructure, rising interest rates, and increased costs. Despite this, the company remains a promising long-term investment opportunity.
The business is built on clean power assets, making it an attractive choice for those looking to invest in a growing industry.
Yet for a long-term investor, that drop can offer a “buying the dip” moment.
Author's summary: Brookfield Renewable Partners is a promising investment opportunity.
Key points:
- Brookfield Renewable is undervalued with massive scale and inflation-linked contracts
- The company has U.S. policy tailwinds driving steady income and multi-year growth
- The Canadian stock has dropped from its 2021 highs but remains a promising long-term investment