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 and which will fall further.
Brookfield Renewable Partners (TSX:BEP.UN) is a growing opportunity that belongs at the top of the list, with a business built on clean power assets.
The Canadian stock is down from its 2021 highs as the sentiment toward renewable energy infrastructure has shifted.
This shift came as interest rates rose, inflation pushed up costs, and investors questioned the timing of growth, but for a long-term investor, the drop can offer a "buying the dip" moment.
Author's summary: Brookfield Renewable is undervalued with massive scale.
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