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The Perfect Retirement Stock: Brookfield Renewable


  • BEPC has a strong balance sheet.
  • It has distinguished itself from peers through its globally-diversified alpha-generating business model.
  • It still enjoys a massive growth runway today.
  • As a result, we expect it to remain a dividend growth machine that meaningfully beats inflation over the long term.
  • Despite a historically rich valuation, BEPC still meets retiree needs like few other stocks today.
  • Looking for a portfolio of ideas like this one? Members of High Yield Investor get exclusive access to our model portfolio. Learn More »

Concept of renewable energy solution in beautiful morning light. Installation of solar power plant, container battery energy storage systems, wind turbine farm and city in background. 3d rendering.
Photo by Petmal/iStock via Getty Images

As we detailed in our recent piece Great News For Renewables, renewable energy has proven to be a terrific investment in recent years and continues to enjoy a strong future outlook as well. Perhaps

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This article was written by

High Yield Investor profile picture

Samuel Smith is Vice President of Leonberg Capital, he has a diverse background that includes being lead analyst at several highly regarded dividend stock research firms. He is a Professional Engineer and Project Management Professional and holds a B.S. in Civil Engineering & Mathematics from the United States Military Academy at West Point and has a Masters in Engineering.

Samuel runs High Yield Investor investing group. Samuel teams up with Jussi Askola and Paul R. Drake where they focus on finding the right balance between safety, growth, yield, and value. High Yield Investor offers real-money core, retirement, and international portfolios. The services also features regular trade alert, educational content, and an active chat room of like minded investors. Learn more.

Analyst’s Disclosure: I am/we are long BAM. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (34)

Thanks for th article. I own bepc and consider it a great hold for the long term. With an historically growing dividend and currently trading at the lower end of its range, i believe this a strong buy.
Any hope for BEPC at this point? Jstic commented below "dropped over 30% this year starting in February, right after BAM dumped 15 million+ shares". I bought in Mar but down from then and I thought renewables were an administration favorite
Jstic profile picture
Problem with BEP/BEPC is that they are owned by parent company BAM. BAM has shown a history of selling off shares(secondary offerings) any time one or the other is way up and they need cash. This kills the share price.

BEPC dropped over 30% this year starting in February, right after BAM dumped 15 million+ shares on the market over a three week period. To be fair, all the renewable stocks took a hit, but none were even close to how badly BEPC dropped.

I won't invest in a Brookfield company again under this business model.
AltaClip profile picture
Since 7/24/2000 the BEPC over BEP premium has averaged 17% with range of 1% to >40%.

The current premium is <10%. Anything under 15% and I'm buying BEPC as it has the potential to move quicker when $$ rushes into the name.

As a comparison... The BIPC/BIP premium has averaged more like 25% and I would expect a 10% average floor to persist unless the supply/demand share count equations change.
@AltaClip you are way off bep and bepc have an equal value. The only difference is a misunderstood tax filing difference. The premium will average around 7%
AltaClip profile picture
@Rayzz1001 my post was just giving facts on the historical premium since it has started trading. Not sure what is "way off" in that?
manaman profile picture
I live off my portfolio income. I cannot pay my bills with a 2.9% dividend. I might as well invest my $ in a guaranteed annuity, for 3%.
High Yield Investor profile picture
@manaman to each their own! Just remember that BEP/BEPC grows their dividend by 5%+ per year, so this income stream will weather inflation much better than an annuity, not to mention compound principal for heirs instead of declining or going to zero at death like many annuities do.
manaman profile picture
@High Yield Investor Thank you. I believe that everything you have written in your reply is correct. But, for my situation, it does not matter. I need secure distributions/dividends now, not later. My portfolio provides a yield of nearly 8%. This pays my monthly bills. To each their own.
Should i swap BEP for my BEPC?
High Yield Investor profile picture
@integritycoatings if you don't mind the K1, BEP is a better option.
@High Yield Investor thank you. I don’t understand how people don’t realize bep and bepc are one in the same. So buying bep is the better deal. Over time companies track earnings. There may always be a premium but realistically there shouldn’t be so why not get the higher dividend with bep.
LifeLongMetsFan profile picture
Hahah... come on, this article is a commercial for BEPC. I own BEP stock. I am 55 yrs old still working and look forward to owning BEP long into my retirement yrs. BEPC over BEP? No way. The K1 is not problem.
High Yield Investor profile picture
@LifeLongMetsFan great! For those who view the K1 as a problem, BEPC is a good alternative.
@LifeLongMetsFan he literally said bep is better unless u are against k-1. And in retirement accounts k-1 isn’t even necessary
Bob-in-DE profile picture
As an individual investor why would I want BEPC over BEP? BEP is going to give me much higher returns pretax and especially after-tax. MUCH higher. If you are that adverse to having to deal with a K-1 you might want to stick to CDs.

PS - stick the BEP in a qualified account and you don't even have to worry about the K-1. No UBTI with Brookfield partnerships.
High Yield Investor profile picture
@Bob-in-DE agreed. Yet, there are many on Seeking Alpha - and in the market overall apparently - who would prefer to pay a premium to not have to deal with a K1.
Eileen Dover profile picture
BEPC yield 2.6%. If I wanted a low yielding stock with growth I would not have to worry about in retirement I would take JNJ.
High Yield Investor profile picture
@Eileen Dover that is another excellent one.
I see today that Brookfield Renewable. Partners has filed for a mixed shelf offering. How do you think this offering will effect the stock price of BEPC? dhyano@burlingtonTelecom.net
High Yield Investor profile picture
@Dhyano I did not see that announcement. Can you link to it?
High Yield Investor profile picture
@Dhyano Hard to know given that no details were given. The market doesn't seem overly concerned about it in any event. Thanks for sharing.
Some of the investment brokers do not offer dividend reinvestment for BEP/BEPC, also not a fan of having to pay foreign tax. Have to consider if the long term stock growth outweighs not being able to reinvest dividends and also paying of foreign tax.
@High Yield Investor Yes, US investor and in a 401K so the tax is not deductible.
High Yield Investor profile picture
@gtashjian BEPC is a Canadian corporation, so due to the tax treaty between the US and Canada, Canadian foreign tax is not withheld in tax-advantaged accounts like 401ks. Disclaimer: this is simply my opinion; it is not tax advice.
Well written, thanks.

Who do you think is BEPC's chief competitor, NEP?
High Yield Investor profile picture
@martyr1777 NEP is certainly one of them. The big global alternative asset managers and probably some of the utilities giants are the other big ones.
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