#6 - Brookfield Renewable Partners (NYSE:BEP)
If NextEra Energy is still too much of a “traditional” energy stock for you, consider Brookfield Renewable Partners (NYSE: BEP). As its name suggests, the company is 100% focused on renewable energy. However, like NextEra it is not 100% focused on solar energy. Its portfolio includes hydropower and wind power projects.
In fact, solar represents just a small portion of its portfolio at this time. But according to the company that is going to change in a big way. The company estimates that solar energy will make up the majority of its energy production by the end of the decade. A catalyst towards that goal is the company’s deal with Exelon in which Brookfield will acquire solar power from 600 of the latter company’s solar sites in the United States.
If you’re looking for massive share price growth, BEP is not for you. However, it is a solid dividend stock and currently has a yield of over 3%.
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
- $25.25
- Consensus Rating
- Buy
- Ratings Breakdown
- 7 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $31.78 (25.9% Upside)
