Cash flow rose 4.6% in the most-recent quarter for this provider of renewable power to over 600 high-quality customers.
This company holds a lot of conceptual appeal for investors and offers stable cash flows from a diverse mix of hydroelectric, wind and solar power.
BROOKFIELD RENEWABLE PARTNERS L.P. (Toronto symbol BEP.UN; www.brookfieldrenewable.com) investors gain exposure to 219 hydroelectric generating stations, 108 wind farms and 4,907 solar-power facilities. In all, it operates over 19,000 megawatts of generating capacity.
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In the quarter ended March 31, 2020, the company’s cash flow per unit rose 4.6%, to $0.68 U.S. from $0.65 a year earlier.
Over the last decade, Brookfield has cut its risk for investors by diversifying its operations across hydro, wind and solar, as well as geographically. It now sells power to over 600 high-quality customers. Currently, the company sells 95% of its power under guaranteed contracts with public power authorities and utilities (with an average contract length of 14 years). Meanwhile, Brookfield has access to over $3 billion in cash and credit lines. That will let it weather any potential COVID-19 disruptions, but also seek out timely acquisitions, perhaps at distressed prices.
Dividend Stocks: New partnership will expand potential shareholder base
The partnership now plans to create a Canadian corporation (called Brookfield Renewable Corporation, or BEPC) with publicly traded shares that are the economic equivalent of your partnership units. Unit holders will receive one class A share of the new corporation for every four units they will continue to hold. For most investors, the transaction is tax free.
The plan should further enhance the value of your units, as it will make it easier for index funds and ETFs, along with investors from outside North America, to buy the new common shares. Right now, many of them avoid the units of Canadian-based partnerships.
The stock trades at an affordable 20.7 times the company’s forecast 2020 cash flow of $2.57 U.S. a share (which reflects today’s COVID-19 environment). What’s more, the shares give you a high 4.2% yield. Brookfield aims to raise its cash distributions by 5% to 9% annually.
Rio can drop stock drop half in value due to covid . This stock was recommended by tsinetwork . I would like to hear the current recommendation for this stock
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Rio can drop stock drop half in value due to covid . This stock was recommended by tsinetwork . I would like to hear the current recommendation for this stock
Thanks for your inquiry. We plan to update our advice for Successful Investor subscribers in the September 2020 issue.