These renewals offer income and growth

Article Excerpt

With their clean, renewable power, these two companies have strong conceptual appeal for investors. But just as important—especially in the wake of the coronavirus—they have stable cash flows from their diverse mix of hydroelectric, wind and solar power. That diversity, plus their long-term contracts, will let these utility firms continue to build up their operations and add to their distributions. BROOKFIELD RENEWABLE PARTNERS L.P. $46.01, is a buy. Through units in the partnership (Toronto symbol BEP.UN; Units outstanding: 447.0 million; Market cap: $20.6 billion; TSINetwork Rating: Extra Risk; Dividend yield: 3.3%; investors gain exposure to 219 hydroelectric generating stations, 104 wind farms and 4,969 solar-power facilities. In all, they produce over 19,317 megawatts of generating capacity. In the quarter ended March 31, 2021, much stronger power generation pushed up the company’s cash flow per unit by 21.2%, to $0.40 U.S. from $0.33 a year earlier. Brookfield recently sold some U.S. onshore wind assets for $733 million U.S. to NextEra Energy (New York…

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