#2 - Brookfield Renewable Partners (NYSE:BEP)
Another company within the Brookfield portfolio that looks to be a solid play in the energy sector is Brookfield Renewable Partners (NYSE:BEP). As its name states, Brookfield Renewable Partners is one of the leaders in renewable energy. Specifically in the case of BEP its hydroelectric power, which accounts for approximately 75% of the company’s current capacity.
While being a part of the larger Brookfield Asset Management family, it is a solid entity in its own rite. They have a market cap of nearly $8 billion which gives them ample room to take on large projects and acquisitions. One such example is the company’s bid to buy TerraForm Power (NASDAQ:TERP) a solar and wind energy provider.
If successful, the acquisition would reduce the company’s reliance on hydroelectric power by approximately 20% (60% from 75%). To that end, the company already has two projects in its pipeline for 2020 which is projected to add approximately $2 million to the company’s funds from operations (FFO). These projects are expected to increase over time.
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
- $27.75
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $30.75 (10.8% Upside)
