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 you’re an investor seeking out opportunities, it can be hard to decide which companies are going to rise to the top and which are likely to only fall further. Yet today, we’re going to wade through all the muck and get to the cream on top.
When it comes to a growing opportunity, Brookfield Renewable Partners (TSX:BEP.UN) belongs at the top of the list. The Canadian stock is down from its 2021 highs as the sentiment toward renewable energy infrastructure has shifted.
This came as interest rates rose, inflation pushed up costs, and investors questioned the timing of growth. Yet for a long-term investor, that drop can offer a “buying the dip” moment.
The business is built on clean power assets.
“buying the dip”
Author's summary: Brookfield Renewable is undervalued and offers growth opportunities.