Brookfield expands to Australia

Article Excerpt

BROOKFIELD RENEWABLE PARTNERS L.P. $42 is a buy. The operator of renewable power projects (Toronto symbol BEP.UN; High-Growth Dividend Payer Portfolio, Utilities sector; Units o/s: 642.1 million; Market cap: $27.0 billion; Dividend yield: 4.4%; Dividend Sustainability Rating: Above Average; www.bep.brookfield.com), last raised its quarterly distribution with the March 2023 payment, to $0.3375 U.S. a unit , up 5.5% from $0.32 U.S. The new annual rate of $1.35 U.S. yields 4.4%. It aims to raise the annual payment by 5% to 9% each year. The partnership is now leading a consortium to buy Origin Energy Ltd. (U.S. Over-the-Counter Market symbol OGFGF) for $12.4 billion U.S., including debt. That firm is Australia’s largest integrated power generator and energy retailer. After the group completes the purchase, Brookfield will take control of Origin’s power plants, while its main partner will acquire the natural gas production and export facilities. Brookfield Renewable is a buy. buy…