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The new Biden administration has shaken up perceptions in the energy sector in its first days in power. I’d suggested that investors scoop up green energy stocks after the re-election of Justin Trudeau and the liberals in October 2019. I’m even more bullish on green energy stocks after the election of Joe Biden and the democrats. These equities are especially attractive for young investors with a long time horizon. Today, I want to look at three of the top dividend stocks operating in this space. Let’s dive in.
This green energy stock offers solid value today
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Brookfield Renewable Partners L with ticker code (BEP) now have 4 analysts covering the stock with the consensus suggesting a rating of ‘Buy’. The range between the high target price and low target price is between 37 and 34.5 calculating the average target price we see 35.63. Given that the stocks previous close was at 57.99 this indicates there is a potential downside of -38.6%. The 50 day moving average now sits at 58 and the 200 day MA is 47.75. The company has a market capitalisation of $15,996m. You can visit the company’s website by visiting: http://www.brookfield.com
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydroelectric, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 19,000 megawatts of installed capacity. Brookfield Renewable Partners Limit
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The Tax-Free Savings Account (TFSA) has to be the most important tool in a Canadian investor’s arsenal. The TFSA allows investors to put aside cash each and every year and take in returns and dividends tax free. As long as you follow the straightforward rules, you really can’t go wrong.
Since 2009, the Canada Revenue Agency (CRA) has added more and more contribution room to the TFSA. Recently the CRA announced it would add a further $6,000 to the TFSA. That will bring the 2021 total to $75,500! In a volatile market, if you’re able to max-out on your TFSA, you absolutely should. All that cash can be invested and kept safe until after the market rebounds.