Is Brookfield Renewable Partners (BEP) A Good Stock To Buy?

ClearBridge Investments, an investment management firm, published its “Global Infrastructure Income Strategy” first quarter 2021 investor letter – a copy of which can be downloaded here. On a relative basis, measured against the S&P Global Infrastructure Index, the ClearBridge Global Infrastructure Income Strategy underperformed during the first quarter. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

In the Q1 2021 Investor Letter, the fund highlighted a few stocks and Brookfield Renewable Partners L.P. (NYSE:BEP) is one of them. Brookfield Renewable Partners L.P. (NYSE:BEP) owns and operates renewable power assets. In the last three months, Brookfield Renewable Partners L.P. (NYSE:BEP) stock lost 4%. Here is what the fund said:

“U.S. renewables utility Brookfield Renewable was another detractor. Brookfield Renewable is a pure-play renewables operator and developer headquartered in Canada and domiciled in the U.S., focused on international hydro, solar, wind and storage technology. As more private and public institutions announce ambitious carbon reduction initiatives, Brookfield Renewable’s globally diversified, multi-technology renewables business makes it an attractive partner. Its development pipeline stands at 18,000 megawatts, providing confidence the company can meet its targeted double-digit cash flow growth through to 2025. Shares moderated amid expectations of rising bond yields, and a cool-off on the green trade.”

best energy stocks to buy


Earlier this month, we published an article revealing that Brookfield Renewable Partners L.P. (NYSE:BEP) was one of the 5 best dividend stocks to buy for long-term gains.

In Q3 2020, the number of bullish hedge fund positions on Brookfield Renewable Partners L.P. (NYSE:BEP) stock increased by about 240% from the previous quarter (see the chart here), so a number of other hedge fund managers believe in BEP’s growth potential. Our calculations showed that Brookfield Renewable Partners L.P. (NYSE:BEP) isn’t ranked among the 30 most popular stocks among hedge funds.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, an activist hedge fund wants to buy this $26 biotech stock for $50. So, we recommended a long position to our monthly premium newsletter subscribers. We go through lists like the 10 best battery stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage.

Disclosure: None. This article is originally published at Insider Monkey.