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 its Canadian stock down from its 2021 highs due to shifting sentiment toward renewable energy infrastructure.
This shift occurred as interest rates rose, inflation increased costs, and investors questioned the timing of growth, but for long-term investors, the drop presents a "buying the dip" moment.
The business is built on clean power assets.
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 is undervalued and offers growth potential.