Dividend Dynamo: Brookfield Renewable Has Grown This Magnificent Business 760% in Just 6 Years
Back in 2016, Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) was an obscure, relatively unknown owner and operator of hydroelectric dams. While operating hydroelectric assets is a fine business, generating relatively steady cash flows on long-term contracts with utility customers, it's not exactly exciting or high growth.
But over the past half-dozen years, things have changed at Brookfield Renewable. At the end of 2016, it had 8,451 megawatts (MW) of hydroelectric capacity and only 1,590 MW of wind and no solar capacity at all. Since then, the numbers have shifted dramatically, with hydro falling to 8,175 MW and total wind and solar skyrocketing to 13,680 MW. This massive 760% increase in wind and solar capacity has been the key to Brookfield Renewable more than doubling its total capacity in less than seven years.
Let's take a closer look at Brookfield's shift to wind and solar, why it happened, and what it means going forward.
Source Fool.com
Brookfield Corp. Stock
With 14 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
With a target price of 42 € there is a slightly positive potential of 9.66% for Brookfield Corp. compared to the current price of 38.3 €.
