Key acquisitions strengthen these renewables

Article Excerpt

BROOKFIELD RENEWABLE PARTNERS L.P. $40 (Toronto symbol BEP.UN; High-Growth Dividend Payer Portfolio, Utilities sector; Units outstanding: 310.1 million; Market cap: $12.4 billion; Dividend yield: 6.5%; Dividend Sustainability Rating: Above Average; www.bep.brookfield.com) has interests in 217 hydroelectric generating stations, 537 solar facilities, 77 wind farms, four biomass facilities and three natural gas-fired power plants. The company raised its quarterly distribution by 5.0%, with the March 2018 payment. The new annual rate of $1.96 U.S. a unit yields a high 6.5% Last year, Brookfield and a group of institutional investors paid $657 million U.S. for 100% of TerraForm Global; it owns and operates clean energy plants in emerging markets. Brookfield’s contribution of $202 million U.S. gave it a 31% share. The partners also acquired 51% of TerraForm Power (Nasdaq symbol TERP). Brookfield paid $203 million U.S. for a 16% stake in that firm. In February 2018, TerraForm Power agreed to pay $1.2 billion U.S. for 100% of Saeta Yield—a 1,028-megawatt portfolio of European wind and solar assets. To help…