Go green and get paid with these two picks

Article Excerpt

Governments are forcing power suppliers to switch from fossil fuels to renewable sources in order to cut greenhouse gas emissions. The best way for investors to profit from this trend—and earn income—is with green energy firms like Brookfield Renewable and Innergex. BROOKFIELD RENEWABLE PARTNERS LP $50 is a buy. The partnership (Toronto symbol BEP.UN; High-Growth Dividend Payer Portfolio, Utilities sector; Units outstanding: 274.8 million; Market cap: $13.7 billion; Dividend yield: 3.0%; Dividend Sustainability Rating: Above Average; www.bep.brookfield.com) owns 222 hydroelectric generating stations, 119 wind farms, 84 solar-power facilities, and 5,527 distributed generation and energy storage facilities. With the March 2021 payment, Brookfield raised its quarterly distribution by 5.0%, to $0.3038 U.S. a unit from $0.2893 U.S. The new annual rate of $1.215 U.S. yields a reasonable 3.0%. The partnership aims to raise the annual payment by 5% to 9% each year. Brookfield recently sold some of its U.S. onshore wind assets for $733 million U.S. to NextEra Energy (New York symbol NEP). Brookfield…