Why Brookfield Renewable Partners Stock Popped Friday
Brookfield Renewable Partners (NYSE: BEP) had a good year in 2020, and its stock price reflected that, rising about 75% for the year. But investors rotated out of alternative energy names in 2021, and Brookfield Renewable was no exception. Shares are down more than 20% in just the last three months. But the company reported strong earnings last week, and with market sentiment behind more renewable energy names today, shares jumped more than 5% as of 3:30 p.m EDT.
Last week, Brookfield Renewable reported funds from operations (FFO) -- a widely accepted measure of cash generation for asset-heavy businesses -- grew 21% in the first quarter of 2021 compared to the prior-year period.
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Source Fool.com
