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. However, Brookfield Renewable Partners (TSX:BEP.UN) stands out as a promising option.
The Canadian stock has dropped from its 2021 highs due to shifting sentiment towards renewable energy infrastructure, rising interest rates, inflation, and growth timing concerns. Nevertheless, for long-term investors, this decline presents a "buying the dip" opportunity.
The business is built on clean power assets, making it an attractive choice for those looking for steady income and growth.
Brookfield Renewable looks undervalued, with massive scale, inflation-linked contracts, and U.S. policy tailwinds that could drive steady income and multi-year growth.
Author's summary: Brookfield Renewable is a promising Canadian stock with growth potential.
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