Ready to Buy the Dip? This Renewable Energy Stock Is a Smart Pick
The stock market has taken quite a plunge this year. The S&P 500 has tumbled almost 20%, while the Nasdaq Composite has shed a third of its value. Some stocks are down even more.
It's challenging to invest during stock market sell-offs like this since it seems as if another drop could happen at any time. However, if you're ready to start buying the dip, Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) would be a wise place to begin. The leading global renewable energy producer has plunged more than 35% from its peak earlier this year. Because of that, it's looking like an incredible investment opportunity right now.
Brookfield Renewable has generated $1.54 in funds from operation (FFO) per share over the last 12 months. That's up about 8% from the prior-year period. Despite that growth, Brookfield Renewable has lost more than a third of its value this year and now trades at about 18 times FFO.
Source Fool.com
