Investing in a renewable energy company is a good idea, more so if it boasts of a solid performance. Most investors, of course, would love to eat their cake and have it, and that’s where a high dividend-yielding stock comes in handy. Brookfield Renewable Partners LP (TSE:BEP.UN) is one stock that keeps living to the expectations of shareholders by giving them handsome dividend yields and demonstrating steady growth as it surges into the future.
Over the past 10 years, Brookfield Renewable Partners LP (TSE:BEP.UN) has posted a rare 437% growth in dividend yields. It currently has a dividend yield of 5.21%, and this is properly cushioned by its great performance in the stock markets. This year alone, Brookfield Renewable Partners LP has realized a 50% rise in stock price. Revenue also grew in its first and second quarters of 2019. The company’s solar and wind segments have been stunning, and its hydroelectric segment, which is its main income generator, has also remained sturdy in revenue.
In its most recent dividend payout, the shareholders received $1.03 per share, compared to the $0.52 per share that it posted in the previous quarter.
In Brookfield Renewable Partners’ latest quarterly results published on July 31, 2019, the company posted earnings per share of $0.05, coming short of Thomson Reuters’ consensus expectation of $0.26. The EPS was on revenue of $787.00 million. During the same quarter, the company had a return on equity of 1.80% and a net margin of 9.16%.
Barclays remains bullish on Brookfield Renewable Partners LP (TSE:BEP.UN) with a “buy” rating. Raymond James, after weighing different metrics, boosted their price target on the stock from $31.00 to $36.00 and gave it a “make perform” rating.
The company has an alluring growth prospect. It expects to realize cash flow growth per share by over 10% per year through 2024. Brookfield Renewable Partners LP is keen on realizing this growth through its well-thought-out cost reduction strategies, development projects, and acquisitions. Over the next half a decade, Brookfield Renewable Partners LP plans to inject a clean $4 billion on acquisitions and new development projects.
Brookfield Renewable Partners LP
Brookfield Renewable Partners L.P. is a renewable energy company headquartered in Bermuda. It’s operated under Brookfield Asset Management. The $9.40 billion market capitalization company owns and operates renewable energy assets. It boasts of power generating facilities in different countries, including India, Colombia, China, the United States, and some other countries in Europe. Brookfield Renewable Partners LP generates energy through hydro, solar, wind, biomass, and cogeneration. Its total power generation capacity is estimated at 17,400 megawatts.