#7 - Brookfield Renewable Partners (NYSE:BEP)
The last, but certainly not the least of the clean energy stocks to consider is that of Brookfield Renewable Partners (NYSE: BEP). Brookfield is one of the largest clean energy companies in the world, having a hand in every major renewable energy sector. At this time, approximately 62% of the company’s portfolio is in the area of hydroelectric power (they have over 200 power plants). However, the company also operates wind farms (approximately 100) and solar facilities (over 550). This combination allows Brookfield to generate 21 gigawatts of power with an additional 27 gigawatts as part of its development pipeline.
BEP stock is up 29% in the last 12 months, but it has underperformed the market in 2021. As of this writing, the stock is down 12%. However, since the company’s debut in December 2017, the stock is up 122%.
And Brookfield is a favorite of income investors because the company pays out approximately 95% of its earnings as a dividend. The company has grown the dividend 16% in the last three years.
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
- $25.17
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $31.78 (26.3% Upside)
There is a saying that change happens slowly, then all at once. That is an apt analogy to what is going on in the clean energy sector. For years, many companies have been diligently working to create technologies that can make clean energy solutions a viable alternative to traditional fossil fuels.
The industry may not be there quite yet, but it’s much closer than it has ever been. And the sector has strong support from the majority party in the United States. This means that it’s time for investors to look closely at the role that clean energy stocks can play in your portfolio.
Investors who may be concerned about putting all their eggs in one or two baskets may consider investing in one of the many clean energy exchange-traded funds (ETFs) that are available. Many of these ETFs are tailored to specific niches within the sector giving you different ways to invest based on the areas you may believe or most profitable, or those that you feel most passionately about.
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