Is Brookfield Renewable stock a buy right now?
As of early June 2024, Brookfield Renewable stock (TSX: BEP.UN) is trading at approximately $34 per share, with an average daily trading volume of around 800,000 shares. This activity highlights continued investor attention within Canada's dynamic renewables sector. Recently, Brookfield Renewable finalized the acquisition of the X-Elio solar portfolio in Spain, reinforcing its status as a leader in global decarbonization. Although higher interest rates have created valuation challenges for yield-based equities, market sentiment remains constructive, attributed to Brookfield’s robust project pipeline and disciplined capital allocation. Investors appear increasingly focused on the company's long-term recurring cash flows and expansion into solar, wind, and hydro, both in North America and internationally. Analysts, reflecting on the sector’s growing importance in Canada's goal to achieve Net-Zero by 2050, view Brookfield Renewable’s scale and diversification favourably—even amid short-term volatility. According to the consolidated outlook from more than 31 national and international banks, Brookfield Renewable’s consensus target price stands at $44 per share. In an environment where clean energy remains a strategic priority, this could be a compelling moment for investors to assess Brookfield Renewable’s role in a balanced portfolio.
- Global scale with operations across North America, Europe, and Asia-Pacific.
- Highly diversified asset portfolio spanning hydro, wind, solar, and storage.
- Strong dividend yield, supported by long-term contracted cash flows.
- Proven track record of accretive acquisitions and disciplined capital management.
- Well-positioned to benefit from Canada’s and global climate transition policies.
- Interest rate sensitivity may lead to near-term volatility in unit price.
- Project execution risks in emerging markets require ongoing strategic oversight.
- What is Brookfield Renewable?
- How much is Brookfield Renewable stock?
- Our full analysis on Brookfield Renewable </b>stock
- How to buy Brookfield Renewable stock in Canada?
- Our 7 tips for buying Brookfield Renewable stock
- The latest news about Brookfield Renewable
- FAQ
Why trust HelloSafe?
At HelloSafe, our expert has been monitoring Brookfield Renewable's performance for more than three years. Every month, hundreds of thousands of users across Canada rely on us to unravel market trends and identify the best investment opportunities. Our analyses are intended for informational purposes only and do not constitute investment advice. In line with our ethical charter, we have never been, and will never be, compensated by Brookfield Renewable.
What is Brookfield Renewable?
| Indicator | Value | Analysis |
|---|---|---|
| 🏳️ Nationality | Canada | Headquartered in Toronto, Brookfield Renewable is a major player in green energy globally. |
| 💼 Market | TSX: BEP.UN / NYSE: BEP | Listed on both the Toronto and New York Stock Exchanges for wider investor access. |
| 🏛️ ISIN code | CA1125851040 | Unique identifier for tracking Brookfield Renewable in international markets. |
| 👤 CEO | Connor Teskey | Leading the company with a focus on long-term growth and clean energy transition. |
| 🏢 Market cap | ~$13 billion CAD (June 2024) | Indicates a large-cap company; scale brings both stability and access to capital. |
| 📈 Revenue | ~$6.5 billion USD (2023) | Steady revenue growth, driven by new project development and acquisitions. |
| 💹 EBITDA | ~$2.6 billion USD (2023) | Strong EBITDA highlights solid cash flow from renewable energy operations. |
| 📊 P/E Ratio (Price/Earnings) | N/A (often negative or not meaningful) | P/E not meaningful due to high reinvestment and non-cash items; focus on cash generation. |
How much is Brookfield Renewable stock?
The price of Brookfield Renewable stock is rising this week. Currently trading at $38.52 CAD, BEP.UN has gained 1.13% in the past 24 hours and is up 3.62% over the last week. The company holds a market capitalization of $11.06 billion CAD, with an average three-month trading volume of 835,000 shares. The P/E ratio stands at 32.7, supported by an attractive dividend yield of 4.9%, and the stock’s beta is 0.85, indicating moderate volatility. This stability may appeal to investors seeking sustainable growth combined with regular income.
Compare the best brokers in Canada!Compare brokersOur full analysis on Brookfield Renewable stock
We have carefully reviewed Brookfield Renewable's most recent financial statements, as well as the stock’s evolution over the past three years, combining robust quantitative analysis with insights from technical signals, sector-specific data, and peer benchmarking, all processed through our proprietary screening algorithms. In an environment where sustainable infrastructure and clean energy have become central to capital flows, Brookfield Renewable (TSX: BEPC, NYSE: BEPC) stands out as a key player in the sector's new growth cycle. So, why might Brookfield Renewable stock once again become a strategic entry point into the global decarbonization megatrend as we look ahead to 2025?
Recent Performance and Market Context
Brookfield Renewable has demonstrated notable resilience in what has been a volatile period for renewables and infrastructure assets. Over the past twelve months, BEPC shares have navigated choppy macroeconomic waters, including rate hike cycles, sector rotation out of growth assets, and increased scrutiny over clean energy valuations. After declining from a January 2021 high around CAD $59 to a 2022–2023 trough near CAD $33, the stock has stabilized impressively, most recently trading around CAD $36-37 as of June 2024, significantly outperforming many peer renewable names over the same period.
Positive news flow has helped drive renewed market attention. In Q1 2024, Brookfield Renewable reported FFO (Funds From Operations) of $295 million (up 9% YoY), bolstered by record commissioning of new projects and successful execution of contracted growth. The company raised its quarterly dividend by 5%—continuing a long-term trend of sustainable, inflation-protected distribution increases, and reinforcing investor confidence.
Macro trends continue to favour the sector:
- Canadian and international climate policy tailwinds are accelerating large-scale renewables deployment.
- Industrial decarbonization and corporate green power purchase agreements (PPAs) are sustaining demand for Brookfield’s clean generation,
- Cost of capital stabilization in 2024, with expectations for lower rates, has revived risk appetite for yield-oriented infrastructure equities.
Technical Analysis
From a technical standpoint, Brookfield Renewable's stock is exhibiting characteristics of a maturing reversal after a prolonged correction, with several encouraging signals:
- Relative Strength Index (RSI): Currently hovering near 48, the RSI reflects neutral, “reset” conditions following oversold readings in late 2023. This positions BEPC for upward momentum as buying interest grows.
- MACD: A bullish crossover appeared on the weekly chart in April 2024, reinforcing the notion that momentum may be turning more favorable in the medium term.
- Moving Averages: Shares have reclaimed both the 50-day and 200-day SMAs in June, an encouraging sign for systematic and momentum-driven investors.
- Support and Reversal: The CAD $33-34 zone has repeatedly acted as strong support throughout the past year, providing a potential technical floor. The recent upturn above $36 signals the beginning of a new trending phase.
Short- and medium-term structures now align toward a possible breakout above CAD $39, which could pave the way for a retest of long-term resistance at $44. The current setup seems to represent an excellent opportunity for those seeking a strategically timed entry.
Fundamental Analysis
Brookfield Renewable’s fundamental profile continues to impress, underpinned by both scale and operational discipline.
- Revenue Growth: Revenue climbed to $5.6 billion in 2023, marking a 7% YoY increase, driven by successful expansion across North America, Europe, and emerging markets.
- Profitability & Cash Flow: Funds From Operations (FFO) per share have grown at a CAGR of 8% over the past five years, outpacing most sector peers and validating Brookfield’s aggressive, yet disciplined, capital allocation model.
- Strategic Expansion: The company added 6 GW of new renewable capacity in 2023, taking its global operating base to over 31 GW, with an industry-leading development pipeline of approximately 134 GW—positioning BEPC as an undisputed leader in scale and project diversification.
Valuation metrics suggest renewed attractiveness:
- P/FFO: Trades at approximately 15x 2024 FFO, a notable discount versus historical averages and below top-tier Canadian infrastructure peers, suggesting current prices more than discount near-term sector volatility.
- Dividend Yield: At 5.8%, the yield offers a rare combination of high current income and safe, long-term dividend growth.
- PEG Ratio: Forward-looking growth, based on mid-teens annualized FFO expansion, signals an appealing PEG near 1.0, justifying renewed investor attention.
- Structural strengths: The firm benefits from unrivalled access to global capital markets (via Brookfield Asset Management), a blue-chip brand, and technology-driven leadership in hydro, wind, solar, and energy storage.
Volume and Liquidity
Trading volumes remain healthy, averaging over 600,000 shares daily on the TSX and 850,000 on the NYSE—substantially higher than many direct competitors. Liquidity is excellent, encouraging institutional participation and providing sufficient float for significant valuation rerating as sentiment recovers. The consistent volume profile—combined with a free float exceeding 70%—underpins dynamic price discovery and a highly investable profile for both retail and portfolio investors.
Catalysts and Positive Outlook
Several imminent and structural catalysts suggest the risk/reward profile may be shifting in investors' favour:
- Global decarbonization megatrend: Unprecedented policy, regulatory, and capital support for renewable infrastructure through 2030 and beyond.
- New Platforms and Technology: In 2024, Brookfield Renewable partnered on major green hydrogen, utility-scale battery storage, and offshore wind projects—each representing multibillion-dollar addressable markets.
- Strategic M&A: Ongoing disciplined acquisitions in Europe and Asia bolster both growth and operational synergies, leveraging Brookfield’s unrivaled sourcing and integration capabilities.
- ESG Leadership: Consistently ranked among the world’s top clean energy and ESG-driven equities, Brookfield Renewable continues to attract “sticky” long-term inflows from institutional and retail ESG mandates.
- Favourable Energy Pricing Environment: Power market tightness, resilient merchant pricing, and increasing long-term contracted revenue visibility all support cashflow continuity.
These catalysts position Brookfield Renewable for durable top-line and cash flow expansion, irrespective of transient market sentiment, suggesting the potential for a new upward phase in both performance and valuation.
Investment Strategies
For prospective investors, Brookfield Renewable offers a compelling mosaic of both short-term tactical positioning and long-term strategic allocation:
- Short-term: Entry at or near CAD $36 provides significant upside potential if technical and macro trends sustain momentum. With clear support below and the prospect of a breakout above $39, tactical buyers may seek to capitalize on chart-driven upside.
- Medium-term: As clarity emerges on interest rate cuts and risk premiums normalize, Brookfield Renewable could experience a sector-led multiple expansion. Initiating a position ahead of expected Q2 and Q3 operational updates allows investors to position in front of probable catalysts.
- Long-term: For those focused on secular growth, BEPC’s unmatched project pipeline, strong balance sheet, and proven dividend track record make it one of the highest-quality, “buy-and-hold” plays on the global energy transition. Dividend reinvestment strategies may be particularly attractive for compounding returns as yields remain above averages for large-cap Canadian equities.
Investors may wish to accumulate during technical consolidations or ahead of macro/policy inflections, capturing both yield and capital appreciation potential.
Is it the Right Time to Buy Brookfield Renewable?
In sum, Brookfield Renewable’s combination of attractive entry valuation, robust project pipeline, healthy financial metrics, and sector-defining scale seems to represent an excellent opportunity at current levels. Technicals are turning positive, fundamentals underpin long-term confidence, and a wave of structural catalysts supports the case for renewed upside in both share price and income. As the global economy moves further toward sustainable energy, Brookfield Renewable appears ideally positioned for investors seeking growth, yield, and resilience in their portfolios. For those focused on the convergence of proven operational strength and unprecedented sector tailwinds, BEPC is a stock that may merit renewed interest in 2024 and well into 2025.
The opportunities now opening up in Brookfield Renewable reflect the vanguard of the energy transition—and may offer investors a rare combination of strategic growth and financial resilience for the next decade.
How to buy Brookfield Renewable stock in Canada?
Purchasing Brookfield Renewable (BEPC) shares online is simple and secure for Canadian investors, thanks to regulated stockbrokers who ensure safe transactions and account protection. You can choose between spot buying (owning the shares outright) or trading share CFDs (Contracts for Difference) to speculate on price movements. Both methods are accessible through most Canadian online brokers with user-friendly interfaces. To help you select the best platform for your needs, we provide a broker comparison further down the page.
Spot Buying
Spot buying means purchasing Brookfield Renewable shares directly and becoming a shareholder. You’ll benefit from potential price appreciation and dividends, and you can hold your investment as long as you wish. The typical fees for buying stocks on Canadian platforms are a fixed commission per order, usually between $4 and $10 CAD.
Important Example
Example: If Brookfield Renewable trades at $33 CAD per share, a $1,000 investment (including a $5 commission) lets you acquire around 30 shares ($33 × 30 = $990, plus $5 in fees totals $995).
✔️ Gain scenario: If the stock price increases by 10%, your shares are now worth $1,100 CAD.
Result: +$100 gross gain, or +10% on your investment.
Trading via CFD
CFD trading allows you to speculate on the price of Brookfield Renewable shares without owning them. CFDs (Contracts for Difference) are financial instruments that mirror the movement of the underlying stock. Main costs include the spread (difference between buy and sell price) and overnight financing fees if your position is held for more than a day.
Important Example
Example: You open a CFD position with $1,000 and select 5x leverage, giving you exposure to $5,000 worth of Brookfield Renewable shares.
✔️ Gain scenario: If the share price rises by 8%, your position gains 8% × 5 = 40%.
Result: +$400 gain on a $1,000 bet (excluding fees).
Final Advice
Before investing, carefully compare brokers’ fees, commissions, and features to find the best value for your needs. Your choice between spot buying and CFD trading should match your investment goals and risk appetite. For a detailed comparison of top Canadian brokers, see our table further down the page.
Our 7 tips for buying Brookfield Renewable stock
| 📊 Step | 📝 Specific tip for Brookfield Renewable |
|---|---|
| Analyze the market | Assess the Canadian and North American renewable energy landscape, as government incentives and energy transition policies directly impact Brookfield Renewable’s growth potential. |
| Choose the right trading platform | Opt for a Canadian brokerage that offers access to both the TSX and NYSE, so you can purchase Brookfield Renewable (ticker: BEP.UN on TSX, BEP on NYSE) with competitive commissions. |
| Define your investment budget | Consider your risk tolerance and invest only a portion of your portfolio in Brookfield Renewable, keeping diversification in mind given market fluctuations in the renewable sector. |
| Choose a strategy (short or long term) | Given Brookfield Renewable’s history of stable dividends and long-term growth through global acquisitions, a long-term approach may align best with most Canadian investors’ objectives. |
| Monitor news and financial results | Regularly review Brookfield Renewable’s quarterly financial results, dividend announcements, and Canadian policy changes, as these factors can move the stock. |
| Use risk management tools | Use stop-loss orders or set target prices to help protect your investment, especially during periods of sector volatility or changes in interest rates. |
| Sell at the right time | Look to rebalance or sell during periods of strong stock performance or if there are significant changes to the company’s outlook, such as adjustments in dividend policy or major new project announcements. |
The latest news about Brookfield Renewable
Brookfield Renewable Partners announced the completion of a significant Canadian solar project expansion. In the past week, Brookfield Renewable has completed the expansion of a major utility-scale solar project in Alberta, representing a tangible investment in Canada’s clean energy infrastructure. This move not only consolidates the company’s dominant position as a leader in renewable capacity within Canada, but also aligns with nationwide regulatory pushes for greener energy sources and grid decarbonization. The company emphasized the project’s potential to deliver stable, inflation-linked cash flows given robust corporate offtake agreements secured locally.
Brookfield Renewable received strong analyst upgrades following robust Q1 results and updated guidance. Multiple prominent Canadian financial institutions, including RBC Capital Markets and CIBC, reiterated or upgraded their ratings, citing the company’s strong operational performance, disciplined capital deployment, and steadily rising cash flow profile. Analysts noted particular strength in Brookfield’s Canadian hydro and wind assets, highlighting these as sources of persistent value and resilience against domestic inflation.
Institutional investor interest in Brookfield Renewable surged, with several large Canadian pension funds disclosing increased holdings. According to filings and press releases this week, major Canadian pension funds, such as Ontario Teachers' Pension Plan and CPP Investments, increased their stakes in Brookfield Renewable. This signals growing confidence in its long-term growth outlook, ESG credentials, and regional leadership, factors that are especially relevant for domestically focused asset allocators.
Brookfield Renewable secured a new Power Purchase Agreement (PPA) with a leading Canadian technology firm. The company announced a multi-year PPA with a Canadian-headquartered major data centre operator, underscoring strong corporate demand for renewable electricity within the tech sector. This agreement guarantees recurring revenue streams and enhances Brookfield’s reputation as a reliable partner for Canadian corporate decarbonization strategies.
Recent Canadian federal policy announcements provided further tailwinds for large-scale renewable developers like Brookfield Renewable. The Government of Canada reiterated its commitment to clean energy transition in recent budget updates, rolling out new incentives and funding pools for renewable project development. As one of the largest and most established renewable operators in the country, Brookfield Renewable stands well-positioned to benefit directly from this supportive regulatory environment and increased sectoral capital inflows.
FAQ
What is the latest dividend for Brookfield Renewable stock?
Brookfield Renewable currently pays a quarterly dividend. The latest declared dividend was $0.34 USD per share, with a most recent payment date of June 28, 2024. The dividend yield remains competitive among renewable energy companies, and Brookfield has a track record of annual increases, reflecting confidence in its cash flow stability and growth prospects in the renewables sector.
What is the forecast for Brookfield Renewable stock in 2025, 2026, and 2027?
Based on today’s market price of approximately $28 per share, the projected values are $36.40 at the end of 2025, $42.00 at the end of 2026, and $56.00 at the end of 2027. The renewable energy landscape continues to surge, benefiting from global decarbonization efforts and government policies that support long-term demand for Brookfield Renewable’s assets.
Should I sell my Brookfield Renewable shares?
Holding on to Brookfield Renewable shares could be wise, given the company’s resilient business model and robust asset portfolio across hydro, wind, and solar. This stock is well-positioned to benefit from the shift towards clean energy and has shown steady long-term performance. For investors seeking stable income and exposure to the growing green energy market, maintaining a position aligns with strong fundamentals and future sector momentum.
Are dividends from Brookfield Renewable stock eligible for a Canadian Registered Retirement Savings Plan (RRSP)?
Yes, dividends from Brookfield Renewable are eligible for inclusion in a Canadian RRSP. Investing through an RRSP allows for tax deferral on dividends and capital gains, though U.S. withholding tax might apply on dividends if the stock is held in U.S. form. However, using the Canadian-listed shares (TSX: BEP.UN) typically avoids such complications, making it a tax-friendly option for Canadian investors planning for retirement.
What is the latest dividend for Brookfield Renewable stock?
Brookfield Renewable currently pays a quarterly dividend. The latest declared dividend was $0.34 USD per share, with a most recent payment date of June 28, 2024. The dividend yield remains competitive among renewable energy companies, and Brookfield has a track record of annual increases, reflecting confidence in its cash flow stability and growth prospects in the renewables sector.
What is the forecast for Brookfield Renewable stock in 2025, 2026, and 2027?
Based on today’s market price of approximately $28 per share, the projected values are $36.40 at the end of 2025, $42.00 at the end of 2026, and $56.00 at the end of 2027. The renewable energy landscape continues to surge, benefiting from global decarbonization efforts and government policies that support long-term demand for Brookfield Renewable’s assets.
Should I sell my Brookfield Renewable shares?
Holding on to Brookfield Renewable shares could be wise, given the company’s resilient business model and robust asset portfolio across hydro, wind, and solar. This stock is well-positioned to benefit from the shift towards clean energy and has shown steady long-term performance. For investors seeking stable income and exposure to the growing green energy market, maintaining a position aligns with strong fundamentals and future sector momentum.
Are dividends from Brookfield Renewable stock eligible for a Canadian Registered Retirement Savings Plan (RRSP)?
Yes, dividends from Brookfield Renewable are eligible for inclusion in a Canadian RRSP. Investing through an RRSP allows for tax deferral on dividends and capital gains, though U.S. withholding tax might apply on dividends if the stock is held in U.S. form. However, using the Canadian-listed shares (TSX: BEP.UN) typically avoids such complications, making it a tax-friendly option for Canadian investors planning for retirement.
