1 Magnificent High Yield Stock Down 50% to Buy and Hold Forever

Core Viewpoint - Brookfield Renewable's stock price has significantly declined, yet it continues to provide reliable dividend growth, making it an attractive option for long-term dividend investors [4][9][10]. Group 1: Company Overview - Brookfield Renewable is closely associated with Brookfield Asset Management, a Canadian asset manager with over 100 years of experience in global infrastructure investments [2][6]. - The company employs an asset management-like approach, focusing on acquiring undervalued assets, improving them, and reinvesting the generated cash into new assets [3][7]. Group 2: Financial Performance - Brookfield Renewable offers a corporate share class with a yield of 4.5% and a partnership version with a yield of 5.2%, both of which are higher than the Dow Jones Utilities Select Index's yield of 3.33% [4][10]. - The distribution for Brookfield Renewable Partners has increased at a compound annual rate of approximately 6% over the past two decades, aligning with management's target growth range of 5% to 9% per year [13]. Group 3: Market Position and Strategy - The steep decline in Brookfield Renewable's stock price, approximately 50% since early 2021, presents a potential opportunity for high-yield investors [10][14]. - Unlike regulated utilities, Brookfield Renewable actively manages a diverse portfolio of renewable energy assets, which may appeal to certain investors seeking exposure to clean energy [12].