Trading at $189, the stock is down from the 52-week high of $232, but it has strong buy ratings. Oppenheimer has a Buy rating with a price target of $271, while Evercore ISI has a price target of $232 with an Outperform rating. The analyst cited strong execution in expanding the manufacturing facility and achieving record production for the stock upgrade in the quarter. Mizuho has a price target of $209 with a buy rating, and Morgan Stanley has a price target of $248 with an Overweight rating. To keep up wi ...

simonkr/E+ via Getty Images On our last coverage of Brookfield Renewable Partners L.P. (NYSE:BEP), (NYSE:BEPC) we gave it another buy rating while noting that the returns were unlikely to be spectacular. The very high funds from operations (FFO) payout ratio as well as the lack of space on the cash available for distribution (CAFD) required a cautionary stance. Valuation was also so-so. Even that CAFD payout ratio was boosted by some asset sales. If we assume that CAFD is the true measure of the owner's ear ...

As the global push for sustainability gains momentum, investors are eyeing renewable energy stocks to buy. Currently, an increasing number of nations are committing to tripling installed renewable energy generation capacity by 2030 in pursuit of the 1.5°C climate goal. In addition, consumer demand for eco-friendly products is putting clean energy stocks on Wall Street in the limelight. As a result, at the end of 2023, there were around 1,500 funds focusing on the climate, up from about 200 in 2018.Yet, it i ...

Justin Paget In March this year, I issued a bullish thesis on Brookfield Renewable Partners L.P. Limited Partnership Units (NYSE:BEP), which, since then, has generated ~13% in total returns, while the S&P 500 is down by ~2%. There were four elements, which raised my interest in BEP and substantiated the decision to turn bullish: Depressed share price, where starting from the moment, when the Fed initiated its restrictive cycle, BEP had lost more than 40% of its market cap despite the fact that the unde ...

Financial Data and Key Metrics Changes - The company generated record funds from operations (FFO) of $296 million in Q1 2024, representing an 8% year-over-year increase, equating to $0.45 per unit [15] - The company is positioned to achieve its target of over 10% FFO per unit growth for the year [15] Business Line Data and Key Metrics Changes - The hydro assets demonstrated strong cash flow resiliency due to a diversified asset base and inflation-linked power purchase agreements [15] - The Wind and Solar segments benefited from recent acquisitions, including Deriva and OnPath, contributing positively to overall performance [15] - The Distributed Energy and Storage segment saw growth from recent development activities, while the Sustainable Solutions segment performed well due to contributions from Westinghouse [15] Market Data and Key Metrics Changes - Global renewable capacity additions grew by 50% in 2023 compared to the previous year, indicating a strong market demand for renewable energy [11] - The demand for power is expected to increase significantly due to trends in digitalization, electrification, and the growth of AI and cloud computing [10][11] Company Strategy and Development Direction - The company has signed a landmark renewable energy framework agreement with Microsoft to deliver over 10.5 gigawatts of new renewable energy capacity in the U.S. and Europe between 2026 and 2030 [5][6] - The strategy focuses on building leading platforms across key power markets globally, leveraging local relationships for permitting and interconnection [5][8] - The company aims to expand its partnerships with major technology players and is well-positioned to meet the increasing energy demand from these sectors [8][10] Management's Comments on Operating Environment and Future Outlook - Management highlighted the significant growth in demand for power driven by cloud computing and AI, indicating a favorable environment for renewable energy developers [3][10] - The company remains optimistic about capital deployment accelerating throughout the year, supported by a robust growth pipeline and favorable market conditions [13][14] - Management expressed confidence in achieving long-term total returns of 12% to 15% for investors [18] Other Important Information - The company executed nearly $6 billion in financing during the quarter, taking advantage of low pricing spreads [16] - The company has a strong balance sheet with $4.4 billion in available liquidity, positioning it to capitalize on growth opportunities [17] - The company is targeting to generate $3 billion in proceeds from asset recycling, with $1.3 billion net to Brookfield Renewable expected this year [14] Q&A Session Summary Question: Details on the Microsoft agreement and focus between North America and Europe - The majority of the agreement's focus is on the United States, aligning with the largest data center markets [19][20] Question: Impact of U.S. trade actions on solar panel imports - The company has diversified its procurement sources and does not foresee current trade actions slowing its growth profile [21][22][23] Question: Market opportunity for power and data - There is a significant imbalance between supply and demand for clean power, with a meaningful portion of growth expected from the tech sector [25][26] Question: Terms of the framework agreement with Microsoft - The agreement includes long-term contracts, typically 15 to 20 years, with inflation-linked pricing [28][29] Question: Development capacity and potential for other agreements - The company has the capacity to pursue additional framework agreements beyond the one with Microsoft [35][36] Question: Capital recycling and market dynamics - The company is seeing strong demand for high-quality derisked assets and expects to meet its capital recycling targets [40][44] Question: Framework agreement's influence on M&A pursuits - The agreement with Microsoft reinforces the company's strategy of acquiring high-quality pipelines in critical markets [47][48] Question: Competition in providing renewable packages - The company differentiates itself through capital access, operational capabilities, and an existing pipeline of projects [51][52] Question: Buy versus build dynamics in the market - The company sees opportunities for both investing and capital recycling, with a robust pipeline for growth [54]

turk_stock_photographerGrowth names like Google (GOOG) and Meta Platforms (META) are the latest tech companies to issue a dividend, and this puts them alongside tech peers like Microsoft (MSFT) and Nvidia (NVDA), who have already been paying one for some time. While dividends are a great thing for investors, the yields on the aforementioned names are rather low (less than 1%) compared to the already low yield of the S&P 500 (SPY) index, and this is due to the combination of their elevated valuations and ...

NextEra Energy Partners doesn't have a lot of room for error.NextEra Energy Partners (NEP 1.59%) currently offers an eye-popping dividend yield of more than 12%. That's several times higher than the S&P 500's 1.4% dividend yield. That much higher rate would enable investors to generate a lot more income for every dollar they invest in the renewable energy company. However, since that high dividend yield comes with a higher risk profile, investors seeking to generate a generous passive income stream from the ...

z1b Over the past weeks, a lot of dividend stocks have sold off because of fears that inflation might be stickier and that interest rates could stay higher for longer. As a result, the popular dividend ETF, Schwab US Dividend Equity ETF (SCHD) dropped by 6% in the past weeks: Data by YCharts And that's just the average of dividend-paying stocks. Many smaller and lesser-known names dropped by closer to 15%, especially in higher yielding sectors of the market that are today out-of-favor. Good examples include ...

The CHIPS and Science Act of 2022 and the Defense Production Act are two examples of why renewable energy stocks can make a comeback, thanks to increasing regulatory activity as we move into the next U.S. election cycle. The iShares Global Clean Energy ETF (NASDAQ:ICLN) is down around 11% this year, but both the Republican and Democrat camps can lead to a revival thanks to new policy proposals coming to light. Analysts expect a “China shock 2.0” for U.S. stocks as China produces cheaper renewable energy goo ...

The world is fighting to go green. So, it’s a good idea to have exposure to some of the best renewable energy stocks to buy in April.For one, according to the International Energy Agency, renewable energy sources will account for over 42% of global electricity generation, with wind and solar doubling to 25%. In addition, the agency says the “World added 50% more renewable capacity in 2023 than in 2022 and next 5 years will see the fastest growth yet…”Two, when and if the Federal Reserve does cut interest ra ...