Raymond James reiterates Strong Buy on Brookfield Renewable Energy stock

Investing.com - Raymond (NSE:RYMD) James has reiterated its Strong Buy rating and $33.00 price target on Brookfield Renewable Energy (NYSE:BEP), representing a potential 20% upside from the current price of $27.44, following a major corporate power deal announcement. InvestingPro data shows the company has maintained consistent dividend payments for 27 consecutive years, currently yielding an attractive 5.83%.

Brookfield Renewable Energy and Google (NASDAQ:GOOGL) have announced a collaboration to deliver up to 3,000 MW of hydroelectric capacity across the United States, marking the world’s largest corporate deal for hydro power.

This agreement follows last year’s framework arrangement with Microsoft (NASDAQ:MSFT) to deliver over 10 GW of renewable power, further establishing Brookfield Renewable Energy as a preferred partner for major corporate clean energy buyers.

Raymond James notes that Brookfield Renewable Energy maintains a well-diversified portfolio that is 90% contracted for an average of 14 years, positioning the company favorably in the renewable energy market.

The firm expressed confidence that Brookfield can extend its leadership position in the rapidly changing renewable energy landscape, citing strong uptake from corporate buyers and the company’s extensive access to capital.

In other recent news, Brookfield Renewable Partners LP reported its first-quarter 2025 earnings with a revenue performance that exceeded expectations, although its earnings per share (EPS) did not meet forecasts. The company achieved revenue of $907 million, surpassing the anticipated $835 million, while EPS was recorded at -$0.35, missing the forecast of -$0.2811. Additionally, Brookfield Renewable has been active in the mergers and acquisitions space, committing to the acquisition of National Grid (LON:NG) Renewables, which includes a significant portfolio of renewable energy assets. Analyst firms have not reported any recent upgrades or downgrades for Brookfield Renewable. The company also highlighted its progress in renewable energy capacity, adding 800 megawatts, and maintains strong liquidity with $4.5 billion available. These developments reflect Brookfield Renewable’s strategic positioning in the renewable energy sector, despite ongoing profitability challenges as indicated by the EPS shortfall. The company remains optimistic about future growth, aiming to commission approximately 8 gigawatts of renewable capacity in 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.