When it comes to sharp pullbacks, investors need to be quick on the trigger to take advantage of discounts nowadays. Last week, United States indices suffered their worst week of trading since the 2008 financial crisis. The S&P/TSX Composite Index retreated by 6.7%.
Brookfield Renewable Partners (TSX:BEP.UN)(NYSE:BEP) has soared to new heights over the past year. It has been tough for investors who have waited for an entry point. This past week provided a rare opportunity to buy on the dip. Shares spiked 7.7% to start the week on March 2. Is it still worth buying Brookfield Renewable, or has the moment passed for value investors?
The company released its fourth-quarter and full-year results for 2019 on February 6. Funds from operations climbed to $761 million or $2.45 per share compared to $676 million or $2.16 per share in the prior year.
Brookfield commissioned 50 megawatts of new capacity over the course of the year and ended the year with $2.7 billion in available liquidity. It has continued to boost its liquidity through asset sales and strategic upfinancings.
Shares of Brookfield still possess a favourable price-to-book value of 1.1. Value investors should not fret too much, as the stock stayed outside of oversold territory over the last week. Income investors still have reason to chase Brookfield as it offers a quarterly dividend of $0.515 per share, representing a 4% yield.
