Brookfield Renewable 株価情報 (NYSE: BEP)

最新ニュース Brookfield Renewable (NYSE:BEP) 株価情報

Brookfield Renewable

Brookfield Renewable is a globally diversified, multitechnology owner and operator of clean energy assets. The company's portfolio consists of hydroelectric, wind, solar, and storage facilities in North America, South America, Europe, and Asia and totals over 20 gigawatts of installed capacity. Brookfield Renewable invests in assets directly, as well as with institutional partners, joint venture partners, and through other arrangements. The company offers two separate listings for investors: Brookfield Renewable Partners and Brookfield Renewable Corp.

Brookfield Renewable Partners L.P. Limited Partnership Units

Brookfield Renewable Partners LP

Brookfield Renewable Corporation Class A Subordinate Voting Shares

Brookfield Renewable Corp

Brookfield BRP Holdings (Canada) Inc. 4.625% Perpetual Subordinated Notes

Brookfield BRP Holdings (Canada) Inc. 4.875% Perpetual Subordinated Notes

Brookfield BRP Holdings (Canada) Inc. 7.250% Perpetual Subordinated Notes

BEPRO Network

Beach Energy Ltd

Brookfield Renewable Partners L.P. 5.25% Class A Preferred Limited Partnership Units, Series 17

Brookfield Renewable today announced that the Toronto Stock Exchange (the "TSX") has accepted notices filed by
<ol>
<li>Brookfield Renewable Partners L.P. ((TSX:<a href="https://www.benzinga.com/stock/BEP#TSX">BEP</a>.UN, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>), (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BEP#TSX">BEP</a>, NYSE:<a href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>)) ("BEP") of its intention to renew its normal course issuer bids for its limited partnership units ("LP Units") and Class A preferred limited partnership units ("Preferred Units"); &nbsp;</li>
<li>Brookfield Renewable Corporation ((TSX:<a href="https://www.benzinga.com/stock/BEPC#TSX">BEPC</a>, NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEPC#NYSE">BEPC</a>), (TSX:<a class="ticker" href="https://www.benzinga.com/stock/BEPC#TSX">BEPC</a>, NYSE:<a href="https://www.benzinga.com/stock/BEPC#NYSE">BEPC</a>)) ("BEPC" and together with BEP, "Brookfield Renewable") of its intention to renew its normal course issuer bid for its outstanding class A exchangeable subordinate voting shares ("Exchangeable Shares"); and &nbsp;</li>
<li>Brookfield Renewable Power Preferred Equity Inc. ("BRP Equity") of its intention to renew its normal course issuer bid for its outstanding Class A preference shares ("Preferred Shares"). BRP Equity is a wholly-owned subsidiary of BEP. &nbsp;</li>
</ol>
Brookfield Renewable believes that the renewed normal course issuer bid will provide the flexibility to use available funds to purchase LP Units, Preferred Units, Exchangeable Shares or Preferred Shares, as applicable, should they be trading in price ranges that do not fully reflect their value, representing an attractive use of available funds. There are currently three series of Preferred Units and five series of Preferred Shares outstanding and listed on the TSX.
Under BEP's normal course issuer bid for LP Units, BEP is authorized to repurchase up to 14,255,578 LP Units, representing 5% of its issued and outstanding LP Units. At the close of business on December 5, 2024, there were 285,111,569 LP Units issued and outstanding. Under BEP's normal course issuer bid, it may repurchase up to 74,937 LP Units on the TSX during any trading day, which represents 25% of the average daily trading volume of 299,749 LP Units for the six months ended November 30, 2024.
Under BEPC's normal course issuer bid for Exchangeable Shares, BEPC is authorized to repurchase up to 8,982,042 Exchangeable Shares, representing 5% of its issued and outstanding Exchangeable Shares. At the close of business on December 5, 2024, there were 179,640,851 Exchangeable Shares issued and outstanding. Under BEPC's normal course issuer bid, it may repurchase up to 70,747 Exchangeable Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 282,988 Exchangeable Shares for the six months ended November 30, 2024.

News

Buybacks

BEPC

TSX:BEP

TSX:BEPC

Brookfield Renewable Announces Renewal Of Normal Course Issuer Bids Of Up To 14,255,578 LP Units, Representing 5% Of Its Issued And Outstanding LP Units

While 2024 has been rough for <a href="https://www.benzinga.com/topic/clean-energy">clean energy stocks</a>, JPMorgan analyst Mark Strouse sees 2025 as a year for selective opportunities in the sector. 
Strouse points to four standout stocks &#8211; First Solar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FSLR#NASDAQ">FSLR</a>), Nextracker Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXT#NASDAQ">NXT</a>), HA Sustainable Infrastructure Capital Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HASI#NYSE">HASI</a>), and Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEPC#NYSE">BEPC</a>). As top picks for investors looking to unwrap some green energy potential.
<h2 class="wp-block-heading">First Solar: A Bright Spot Despite Political Clouds</h2>
First Solar's strong foothold in domestic manufacturing and likely retention of IRA 45X credits makes it a top contender. 
Strouse notes that potential U.S. import tariffs or regulations could disadvantage foreign competitors, giving First Solar a unique edge. With resumed bookings activity expected in 2025, this solar giant could shine even brighter, according to Strouse.
Price target: $282 by December 2025.
Read Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/11/41880110/solar-renewables-stocks-crash-after-trump-win-should-you-buy-now-at-cheap-valuations">Solar, Renewables Stocks Crash After Trump Win: Should You Buy Now At Cheap Valuations?</a>
<h2 class="wp-block-heading">Nextracker: Tracking Success With Superior Execution</h2>
Since its IPO, Nextracker has outperformed its peers with margin resiliency and geographic diversification. 
Its exposure to 45X tax credits and safe harbor orders positions it for potential upside in 2025. For investors searching for a dependable player in utility-scale solar solutions, Nextracker offers a compelling value proposition with significant potential for long-term returns, the analyst says.
Price target: $58 by December 2025.
<h2 class="wp-block-heading">Hannon Armstrong: Diversified &amp; Investment-Grade Ready</h2>
Strouse highlights Hannon Armstrong&#8217;s strategic resilience, citing its robust end-market diversification and newly secured investment-grade rating as key differentiators in a volatile economic landscape. 
The analyst sees the company&#8217;s potential for a lower cost of capital and consistent operational execution as critical catalysts for future growth, signaling a promising trajectory amid complex market conditions.
Price target: $42 by December 2025.
<h2 class="wp-block-heading">Brookfield Renewable: A Safe Haven In Clean Energy</h2>
Brookfield Renewable stands out by offering unprecedented scale and strategic diversification in a volatile market, capitalizing on the growing appetite for de-risked assets. 
The analyst points to the company&#8217;s record-breaking capital recycling strategy and consistent dividend payments as key attributes that position Brookfield Renewable as an especially compelling option for risk-averse investors seeking stability in the clean energy sector.
Price targets: $30 for BEP and $34 for BEPC by December 2025.
<h2 class="wp-block-heading">Why Now?</h2>
Despite lingering macro headwinds and political uncertainties, Strouse believes clean energy's long-term fundamentals remain solid. Lower costs per watt and increasing power demand underpin the sector&#8217;s growth, offering compelling entry points for discerning investors.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/24/11/41926301/sustainable-investment-under-trump-performance-matters-far-more-than-politics-jpmorgan-analyst-says">Sustainable Investment Under Trump: &#8216;Performance Matters Far More Than Politics,&#8217; JPMorgan Analyst Says</a></li>
</ul>
Photo: Shutterstock

Analyst Color

Long Ideas

Markets

Analyst Ratings

Trading Ideas

FSLR

Hannon Armstrong Sustainable Infrastructure Capital

HASI

Clean Energy's 2025 Comeback: Analyst Reveals 4 Gems Hidden In Market Turbulence

JP Morgan analyst Mark Strouse upgrades Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) from Neutral to Overweight and announces $30 price target.

Upgrades

Price Target

JP Morgan Upgrades Brookfield Renewable to Overweight, Announces $30 Price Target

Reported Earlier, Brookfield Renewable Launches C$200M Green Hybrid Notes With 5.450% Initial Interest Rate, Resetting Every Five Years

<ul>
<li>10-year PPA to deliver power from Argo and Brookfield's Smoky Mountain Hydro Facilities located in east Tennessee and western North Carolina</li>
<li>The hydro facilities will provide 377 MW of reliable, clean energy to meet demand growth in TVA's service territory</li>
<li>The PPA will support TVA's energy transition goal to achieve net-zero by 2050</li>
</ul>
Tennessee Valley Authority ("TVA") together with Argo Infrastructure Partners, LP ("Argo") and Brookfield Asset Management ("Brookfield") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BAM#TSX">BAM</a>), with its listed affiliate Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>, BEPC, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BEP#TSX">BEP</a>, BEPC))) today announced the signing of a landmark 10-year power purchase agreement ("PPA") with power to be delivered by the Cheoah, Calderwood, Chilhowee and Santeetlah dams, together known as the Smoky Mountain Hydroelectric facilities ("Smoky"), which is jointly owned by Argo and Brookfield.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20241119725256/en/">https://www.businesswire.com/news/home/20241119725256/en/</a>
Smoky will begin delivering power through the PPA starting in 2025 and over the next decade, will supply more than 14 gigawatt hours of carbon-free energy to TVA customers, advancing TVA's transition towards its 2050 net-zero goal.
Smoky currently owns and operates a 377-megawatt portfolio of four hydroelectric power facilities across east Tennessee and western North Carolina. This portfolio generates an annual average of 1.4 million megawatt-hours of carbon-free energy—equivalent to approximately 1.1 million tons of CO2 emissions avoided each year.

Contracts

TSX:BAM

Tennessee Valley Authority Together With Argo Infrastructure Partners And Brookfield Asset Management, With Its Listed Affiliate Brookfield Renewable Announces The Signing Of A Landmark 10-Year PPA With Power To Be Delivered By The Smoky Mountain Hydroelectric Facilities, Which Is Jointly Owned By Argo And Brookfield

Earnings

Earnings Beats

Earnings Misses

Brookfield Renewable Q3 2024 FFO $0.42 Misses $0.43 Estimate, Sales $1.470B Beat $1.365B Estimate

Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) is gearing up to announce its quarterly earnings on Friday, 2024-11-08. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Brookfield Renewable will report an earnings per share (EPS) of $-0.26.
Brookfield Renewable bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Earnings Track Record</h3>
In the previous earnings release, the company missed EPS by $0.08, leading to a 0.0% drop in the share price the following trading session.
Here's a look at Brookfield Renewable's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.20</td>
<td>-0.17</td>
<td>-0.04</td>
<td>0.04</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>-0.28</td>
<td>-0.23</td>
<td>0.01</td>
<td>-0.14</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>5.0%</td>
<td>-3.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730988261_0.png" alt="eps graph" />
<h3>Market Performance of Brookfield Renewable's Stock</h3>
Shares of Brookfield Renewable were trading at $25.21 as of November 05. Over the last 52-week period, shares are up 15.06%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/BEP/earnings">To track all earnings releases for Brookfield Renewable visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Preview: Brookfield Renewable's Earnings

Brookfield Signed An Agreement To Acquire 12.45% Minority Stakes In Four Of Ørsted's Operational UK Offshore Wind Farms For An Enterprise Value Of $2.3B

CIBC analyst Mark Jarvi maintains Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Outperformer and raises the price target from $33 to $34.

CIBC Maintains Outperformer on Brookfield Renewable, Raises Price Target to $34

RBC Capital analyst Nelson Ng reiterates Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Outperform and maintains $31 price target.

Reiteration

RBC Capital Reiterates Outperform on Brookfield Renewable, Maintains $31 Price Target

UBS analyst William Grippin upgrades Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) from Neutral to Buy and raises the price target from $24 to $31.

UBS Upgrades Brookfield Renewable to Buy, Raises Price Target to $31

JP Morgan analyst Mark Strouse maintains Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) with a Neutral and raises the price target from $30 to $31.

JP Morgan Maintains Neutral on Brookfield Renewable, Raises Price Target to $31

Brookfield Renewable Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) and its institutional partners disclosed the sale of&nbsp;Saeta Yield to Masdar, Abu Dhabi Future Energy Company PJSC, for an implied enterprise <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40999345/masdar-to-acquire-saeta-from-brookfield-for-1-4-billion" rel="noreferrer noopener">value of around $1.4 billion (€1.2 billion)</a>.
The acquisition includes a portfolio of 745 megawatts (MW) of primarily wind assets—538 MW in Spain, 144 MW in Portugal, and 63 MW of solar PV in Spain—along with a 1.6 gigawatt (GW) development pipeline.
The deal excludes 350 MW of concentrated solar power assets, which Brookfield will retain and operate.
The transaction is expected to close by the end of 2024, pending customary approvals.
Also Read: <a href="https://www.benzinga.com/markets/equities/24/09/40798749/brookfield-plans-to-invest-up-to-1-1b-in-efuels-details" target="_blank" rel="noreferrer noopener">Brookfield Plans To Invest Up To $1.1B in eFuels: Details</a>
Connor Teskey, chief executive officer of Brookfield Renewable Partners, said, &#8220;We are pleased to have successfully supported Saeta throughout our ownership, having worked closely with the business to scale and optimize its renewable portfolio across Iberia.&#8221;
&#8220;The company has a strong development pipeline and a top-tier management team, and is well positioned to continue delivering incremental renewable energy to the region over the coming years under Masdar&#8217;s sponsorship,&#8221; he added.
Apart from this, Brookfield Asset Management Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>), together with Brookfield Renewable and other institutional partners, has agreed to sell a 25% stake in First Hydro Company, a key electricity generation and<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/n40996353/cdpq-acquires-25-of-uks-first-hydro-company-from-brookfield" rel="noreferrer noopener"> storage facility in the United Kingdom, to CDPQ</a>.
Notably, ENGIE SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/ENGQF#OTC">ENGQF</a>) is the majority shareholder of First Hydro Company, holding the remaining 75% of the company.
&#8220;We are pleased to have supported First Hydro throughout our ownership period including securing its long-term future through active management of the business. First Hydro will continue to provide considerable renewable power to the U.K. long into the future,&#8221; said Ignacio Gomez-Acebo, managing director at Brookfield.
Price Action: BEP shares are up 0.63% at $27.00 premarket at the last check Tuesday.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/government/24/08/40603785/clean-energy-jobs-grow-twice-as-fast-as-overall-job-market-in-2023-our-policies-are-working" target="_blank" rel="noreferrer noopener">Clean Energy Jobs Grow Twice As Fast As Overall Job Market In 2023: &#8216;Our Policies Are Working&#8217;</a></li>
</ul>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Shutterstock

Equities

Global

ENGQF

Brookfield Divests Saeta Yield To Masdar In $1.4B Deal, Keeps Key Solar Assets

GCM Grosvenor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GCMG#NASDAQ">GCMG</a>), a leading global alternative asset management firm, today announced that its Infrastructure Advantage Strategy has acquired a 25% equity interest in Shepherds Flat (the "Transaction"), the largest repowered wind farm in North America, from Brookfield Asset Management (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAM#NYSE">BAM</a>, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BAM#TSX">BAM</a>) and its institutional partners, including its listed affiliate Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>, BEPC, TSX:<a class="ticker" href="https://www.benzinga.com/stock/BEP#TSX">BEP</a>, BEPC)))) ("Brookfield"). &nbsp;
Shepherds Flat, located in north central Oregon, is a fully contracted 338-turbine wind farm with a nameplate capacity of 845 MW. The wind farm produces in excess of 2,000 GWh of electricity annually, which is enough to power ~185,000 average U.S. households and is fully supported by a long-term contract with a large-scale utility.

GCMG

GCM Grosvenor Announces That Its Infrastructure Advantage Strategy Has Acquired A 25% Equity Interest In Shepherds Flat, From Brookfield Asset Management And Its Institutional Partners, Including Its Listed Affiliate Brookfield Renewable

Saeta is a developer, owner and operator of renewable power assets with capabilities across the entire value-chain. The transaction consists of a portfolio of 745 megawatts (MW) of predominantly wind assets &ndash; 538 MW of wind assets in Spain, 144 MW of wind assets in Portugal and 63 MW solar PV assets in Spain &ndash; and includes a 1.6 gigawatt (GW) development pipeline.
The transaction excludes a regulated portfolio of 350 MW of concentrated solar power assets, which Brookfield will retain and continue to operate.

Masdar Reveals Proposed Acquisition Of Saeta Yield From Brookfield Renewable For An Implied Enterprise Value Of c. $1.4B

Clean energy jobs grew at <a href="https://www.benzinga.com/news/earnings/24/07/40051107/first-solar-reports-strong-q2-results-eps-beat-sales-up-24">twice the rate </a>of overall jobs in the U.S. in 2023, according to a report from the U.S. Department of Energy (DOE) released on Wednesday.
Jobs in that sector grew by 4.2%, or 142,000 positions, last year, compared to a job growth rate of 2.0% in the overall economy, the 2024 U.S. Energy and Employment Report (USEER) showed.
The report also revealed that unionization rates in clean energy reached 12.4% in 2023, surpassing a unionization rate of 11% for the entire energy sector, which added 250,000 jobs last year.
Clean energy sectors that experienced the greatest growth last year were zero-emission vehicle and renewable energy, as well as transmission, distribution and storage, according to the report.
 "Our policies are working. We are now starting to see the job impacts of investments made through the infrastructure and inflation reduction laws &#8211; first in construction and as America builds more of these factories, we'll see hundreds of thousands more," U.S. Secretary of Energy Jennifer M. Granholm said in a statement.
Read Also: <a href="https://www.benzinga.com/etfs/sector-etfs/24/07/39993019/everythings-bigger-in-texas-lone-star-state-will-build-more-clean-energy-than-next-10-states-com">Everything&#8217;s Bigger In Texas: Lone Star State Will Build More Clean Energy Than Next 10 States Combined</a>
"The data clearly show that clean energy means jobs – good jobs, union jobs, and jobs retained – in communities across the country as we race to dominate the global clean energy economy," Granholm added.
Clean energy jobs grew in all 50 states and the District of Columbia in 2023, led by a 7.7% increase in Idaho, followed by Texas at 6.0%, and New Mexico at 5.9%.
The solar and wind sectors reported respective job growth of 5.3% and 4.5% in 2023, the report stated.
 The DOE projects that the Inflation Reduction Act will double the share of electricity generation from clean sources by 2030, driven by growth in solar and wind. 
The report also said that there were 28,000 jobs in the U.S. last year that involved building new battery and solar module factories, ports for offshore wind, and warehouses to store and transport clean energy products.
&#8220;Thanks to the Biden-Harris administration&#8217;s historic investments, clean energy jobs are booming in every single state,&#8221; AFL-CIO President Liz Shuler said in a statement.
Price Action: Solar and wind companies are trending in both directions as of Wednesday&#8217;s early-morning trading.
<ul>
<li>Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) declined 0.05% to $122.53</li>
<li>Brookfield Renewables L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) gained 0.16% to $25.05</li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>) slipped 1.40% to $182.96</li>
<li>Vestas Wind Systems A/S (OTCPK: VWDRY) ticked up 0.13% to $7.62I</li>
</ul>
Exchange-traded funds that hold these stocks also saw gains and losses on Wednesday morning.
<ul>
<li>IShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) gained 0.21%</li>
<li>First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>) slipped 0.03%</li>
<li>Invesco Solar ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) ticked down 0.42%</li>
</ul>
Read Now: 
<ul>
<li><a href="https://www.benzinga.com/top-stories/24/08/40585808/tesla-energy-highlights-texas-record-breaking-battery-power-milestone-could-powerwall-have-its-momen">Tesla Energy Highlights Texas Battery Power Milestone: Could Powerwall Have Moment In Spotlight?</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Government

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ETFs

ENPH

First Trust Nasdaq Clean Edge Smart Grid Infrastructure Index Fund

GRID

iShares S&P Global Clean Energy Index Fund

ICLN

VWDRY

Clean Energy Jobs Grow Twice As Fast As Overall Job Market In 2023: 'Our Policies Are Working'

Brookfield Renewable (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) reported quarterly earnings of $0.51 per share which missed the analyst consensus estimate of $0.52 by 1.92 percent. The company reported quarterly sales of $1.482 billion which missed the analyst consensus estimate of $1.566 billion by 5.36 percent. This is a 22.99 percent increase over sales of $1.205 billion the same period last year.

Brookfield Renewable Q2 2024 FFO $0.51 Misses $0.52 Estimate, Sales $1.482B Miss $1.566B Estimate

U.S. solar manufacturers are prodding the Biden administration to toughen the rules on a law that gives a <a href="https://www.benzinga.com/news/24/07/39776035/solar-stocks-tumble-following-failed-assassination-of-trump-whats-going-on">10% tax credit </a>solar project developers who use materials made in the U.S.A.
The administration sought to encourage investment in clean energy and deter reliance on Chinese goods through the 2022 Inflation Reduction Act, which requires that 40% of the cost of a developer&#8217;s materials comes from U.S.-manufactured solar products.
But the Solar Energy Manufacturers for America Coalition (SEMA) said developers can reach that 40% requirement just by buying U.S.-made mounting racks and inverters, and then purchasing the solar panels overseas, Reuters reported.
Also Read: <a href="https://www.benzinga.com/trading-ideas/technicals/24/05/39068775/enphase-energy-solar-giant-shines-with-golden-cross-breakout">Enphase Energy: Solar Giant Shines With Golden Cross Breakout</a>
SEMA also said the situation undermines the administration&#8217;s goals of building a robust solar supply chain to compete with China because solar panels are more difficult and expensive to produce than the other components.
Price Action: Solar panel manufacturers trended downward by Wednesday&#8217;s late-morning trading.
Enphase Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) declined 4.36% to $111.10, while Brookfield Renewable Partners L.P. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEP#NYSE">BEP</a>) slid 2.78% to $25.19 and Sunrun Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUN#NASDAQ">RUN</a>) dipped 2.49% to $16.85.
Exchange-traded funds that hold shares of Enphase, which has the largest market capitalization of $17.1 billion, <a href="https://www.forbes.com/advisor/investing/best-solar-power-stocks/">according </a>to Forbes Advisor, also fell by late morning on Wednesday.
Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 3.06% as Global X Solar ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RAYS#NASDAQ">RAYS</a>) declined 1.60% and Virtus Duff &amp; Phelps Clean Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VCLN#NYSE">VCLN</a>) dropped 1.18%. First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCLN#NASDAQ">QCLN</a>) shed 3.24% and iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) declined 1.92%.
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Photo: Andreas from Pixabay

First Trust NASDAQ Clean Edge Green Energy Index Fund

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