The AI Revolution Could Supercharge Growth for This Excellent Dividend Stock
Brookfield Renewable (NYSE: BEPC)(NYSE: BEP) is already growing briskly. Strong demand for renewable energy combined with its ability to capitalize on acquisition opportunities has it in an excellent position to outperform its target of increasing its funds from operations (FFO) by more than 10% this year. It sees those and other catalysts continuing to power double-digit earnings growth through at least 2027.
Artificial intelligence (AI) is emerging as a new catalyst that could supercharge its growth toward the end of this decade. That makes it an even better dividend stock to buy and hold for the long term. It should give Brookfield the power to grow its 4.7%-yielding dividend for many years to come.
AI requires significant amounts of data and computing power to generate outputs. It takes a lot of energy to run the data centers supporting AI. A single data center typically consumes the same energy as 50,000 homes. Meanwhile, AI consumes more energy than traditional computing, with a single training model using more electricity in a year than 100 homes. AI could thus power explosive demand for electricity in the future as companies deploy the technology.
Source Fool.com
Brookfield Corp. Stock
With 13 Buy predictions and only 1 Sell predictions the community sentiment for the stock is positive.
On the other hand, the target price of 43 € is below the current price of 43.6 € for Brookfield Corp., so the potential is actually -1.38%.
