Why Brookfield Renewable Stock Skyrocketed in May
Shares of Brookfield Renewable (NYSE: BEPC)(NYSE: BEP) scripted a dramatic comeback in May, surging double-digits and recouping all of their losses through April and some. While units of the partnership jumped 32.7% in May, corporate shares zoomed 35.7% last month according to data provided by S&P Global Market Intelligence.
What changed so fast in May that sent shares skyrocketing for a stock down nearly 20% this year through April? Investors finally saw value in the renewable energy stock after its record quarterly numbers, a landmark deal with tech behemoth Microsoft, and growth plans including dividend growth.
Brookfield Renewable kicked off 2024 on a solid note, delivering record funds from operations (FFO) in its first quarter. Its FFO grew 8% year over year, driven by pipeline development and acquisitions. Brookfield Renewable expects to bring nearly 7 gigawatts (GW) of new renewable capacity online this year and generate $1.3 billion in proceeds from the sale of mature assets.
Source Fool.com
Brookfield Corp. Aktie
Positive Tendenz bei Brookfield Corp. mit mehreren Buy-Einschätzungen als Sell-Einschätzungen.
Ein negatives Potenzial von -0.94% für Brookfield Corp., selbst mit einem niedrigeren Kursziel von 42 € als 42.4 €.
