5 Renewable Energy Stocks to Consider Buying Right Now
Renewable energy stocks seem to have caught investors' attention like never before, resulting in their enormously high valuations. While companies focusing on technology, such as fuel cells or solar power components, keep on grabbing headlines, several not-so-popular renewable energy infrastructure companies and utilities continue to grow their top and bottom lines. Here are five such companies that not only provide alluring growth prospects, but appealing dividends too.
Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) primarily generates power from hydro, wind, and solar sources. Nearly two-thirds of the company's generation is from hydropower. It recently made a big bet on distributed solar generation by acquiring $810 million of Exelon's solar assets.
The company has done a commendable job of growing its revenues and funds from operations over the years, both organically and through acquisitions. In the latest quarter, the company grew its generation by 10% and funds from operations by 18%. Brookfield Renewable raised its dividend by 5% in the fourth quarter and expects to grow it by 5% to 9% annually. In addition to attractive growth prospects, the stock currently offers a dividend yield of 2.7%.
Source Fool.com