Renewable Energy Company

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Looking for a company that:
1) is in the renewable energy field (solar, wind, non-oil)
2) pays a good dividend
3) has a history of good dividend growth.

Is AQN a good bet or should I look elsewhere?

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Asked on December 12, 2020 2:14 pm
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Private answer

Hi there,

We have a couple on our Bull List. First, AQN is on our Dividend Bull List and you can view why here:
https://www.stocktrades.ca/premium/individual-dividend-picks/algonquin-power-utilities-aqn-to/

We like the company's prospects and provides a nice balance of yiled, growth and dividend growth.

Polaris Infrastructure is another renewable play. It is currently on our Growth Bull List as it has outsized growth potential. Once again, you can view our thoughts here:
https://www.stocktrades.ca/premium/our-growth-picks/pif-to/

This one certainly comes with additional risk, as the company's assets are highly concentrated in Nicaragua and Peru. Where it lacks is in terms of dividend growth.

Another strong renewable stock is Foundational Stock Brookfield Renewables BEP.UN or BEPC (which is also a Canadian Dividend Aristocrat and owns a 10-year dividend growth streak). It is one of our foundational picks as we believe it is best in class.

BEP and AQN are arguably the best combination of growth, yield and dividend growth. There are many other renewables that pay dividends, but like PIF - don't have reliable growth streaks.

Mat

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Posted by Mathieu Litalien
Answered on December 12, 2020 2:46 pm