Brookfield raises your distribution

Article Excerpt

BROOKFIELD RENEWABLE PARTNERS L.P. $32 is a buy. The partnership (Toronto symbol BEP.UN; High-Growth Dividend Payer Portfolio, Utilities sector; Units outstanding: 665.2 million; Market cap: $21.3 billion; Distribution yield: 6.0%; Dividend Sustainability Rating: Above Average; www.bep.brookfield.com) owns 237 hydroelectric generating stations, 172 wind farms, 211 solar facilities, and 6,408 distributed generation and energy storage sites. With the March 2024 payment, Brookfield will raise your quarterly distribution by 5.2%. The new annual rate of $1.42 U.S. a unit yields a high of 6.0%. The partnership aims to raise the annual payment by 5% to 9% each year. Brookfield’s cash flow will likely rise 11% to $1.85 U.S. a share in 2024, and the units trade at an attractive 12.8 times that estimate. Brookfield Renewable Partners is a buy. buy…