Why Brookfield Renewable Shares Jumped Friday
Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) reported first-quarter earnings today, and the stock popped in response. Shares of the owner of renewable energy generation assets were 6.5% higher as of 1:25 p.m. ET. The move helped contribute to a more than 20% gain in the partnership's shares so far this year.
Investors liked the double-digit growth in funds from operations (FFO), as well as the partnership's investment commitments that should add to future growth. FFO in the quarterly period increased 13% versus last year, and Brookfield Renewable has already committed to $8 billion in new investments for this year, along with its institutional partners. More than $1 billion for those investments will come from Brookfield itself.
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Source Fool.com
