#1 - Brookfield Renewable Partners (NYSE:BEP)
Investing in Brookfield Renewable Partners LP (NYSE: BEP) is a way for investors to take an all-of-the-above approach to clean energy. The company is a pure-play subsidiary of Brookfield Asset Management Ltd. (NYSE: BAM) and has a portfolio that includes wind, hydroelectric, solar, and energy storage assets. That gives you exposure to a diverse range of clean energy products in one company.
In the company’s fourth-quarter earnings report, Brookfield Renewable announced it had invested or agreed to invest up to $12 billion in a variety of clean energy projects. This is a record amount that the company plans to deploy over the next five years. The company says that’s about half the growth target for that period.
BEP stock is down 19% in the last 12 months. But investors are still enjoying a 43% gain since March 2020 (the start of the Covid-19 pandemic). The company is expecting to average approximately 18% earnings growth over the next five years. Earnings growth is a solid predictor of share price growth. So that adds credibility to the consensus price target of the analysts tracked by MarketBeat. They give the stock a $39.78 price target, which is a 45% gain from the current level.
About Brookfield Renewable Partners
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.
Read More - Current Price
- $27.93
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $30.75 (10.1% Upside)
