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 seeking investment opportunities, it can be challenging to decide which companies will rise to the top. However, Brookfield Renewable Partners (TSX:BEP.UN) is a top contender. Despite being down from its 2021 highs due to shifting sentiment towards renewable energy infrastructure, the company remains a promising investment.
The decline in the stock's value can be attributed to rising interest rates, increased costs due to inflation, and concerns about growth timing. Nevertheless, for long-term investors, this drop presents a "buying the dip" opportunity. The business is built on clean power assets, making it an attractive choice.
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.
Author's summary: Brookfield Renewable Partners is a promising investment opportunity.
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