Brookfield Renewable Corporation (BEPC) – Among the Best Utility Dividend Stocks to Buy Now

Brookfield Renewable Corporation (NYSE:BEPC) is included among the 12 Best Utility Stocks to Buy for Dividends.

Brookfield Renewable Corporation (BEPC) - Among the Best Utility Dividend Stocks to Buy Now

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Brookfield Renewable Corporation (NYSE:BEPC) operates one of the world’s largest publicly traded platforms for renewable power and decarbonization solutions. The company’s diversified portfolio consists of hydroelectric, wind, solar, distributed energy, and sustainable solutions across five continents.

Brookfield Renewable Corporation (NYSE:BEPC) garnered increased investor attention on October 15 when JPMorgan raised the stock’s price target from $41 to $44, while keeping an ‘Overweight’ rating on its shares. The update comes as the analyst increased targets in the clean energy sector ahead of the coming Q3 reports and noted that the utility-scale operators remain best positioned, while residential players are likely more mixed.

Brookfield Renewable Corporation (NYSE:BEPC)’s long-term, fixed-rate power purchase agreements (PPAs) provide it with the stable cash flows to cover its impressive 3.69% annual dividend yield. The utility is forecasting more than 10% annual FFO per share growth through 2030, with a target to raise its cash distributions by 5% to 9% annually.

While we acknowledge the potential of BEPC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BEPC and that has a 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None.