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. The Canadian stock has dropped from its 2021 highs due to shifting sentiment towards renewable energy infrastructure, rising interest rates, and increased costs.
Despite this, the drop presents a "buying the dip" moment for long-term investors. The business is built on clean power assets, making it an attractive opportunity.
The Canadian stock is down from its 2021 highs as the sentiment toward renewable energy infrastructure has shifted.
Author's summary: Brookfield Renewable is a promising Canadian stock with growth potential.
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