3 Clean Energy Stocks for Plenty of Green Returns

If you’re a smart investor, then you’re likely already aware that investing long term is the best approach. But that doesn’t mean you should completely ignore some of the emerging industries out there. In fact, when it comes to long-term holds with plenty of opportunity, clean energy stocks have that in spades.

But not all clean-energy stocks fall in this category. Today, I’m going to cover three companies that promise plenty of green returns for those who want to set it and forget it.

Northland Power stock

First among the clean-energy stocks to consider is Northland Power (TSX:NPI). NPI stock is perfect for those who want a diversified set of renewable energy from their investment. After all, who knows what the focus will be on in the future?

That’s why NPI stock is a great option. It invests in practically every type of renewable energy resource, including offshore wind farms, which could be a major win in the years to come, as arable land becomes smaller. What’s more, it’s considerably valuable at this point.

NPI stock currently trades at just 9.85 times earnings, with a dividend yield as well at 3.53%. What’s more, that dividend comes out on a monthly basis, allowing you to reinvest in this company as you go along. Shares are currently down 16% in the last year.

Ballard Power

Another strong consideration among clean-energy stocks is Ballard Power Systems (TSX:BLDP). Ballard stock is perfect for those who keep looking at electric vehicles and wondering how to get in on the action. Well, this is definitely a solid option, without the high share price.

Ballard stock focuses on everything but personal cars. You can gain access to clean energy production for trains, marine systems, subways, you name it. If it moves and isn’t your run-of-the-mill electric car, Ballard stock likely produces it.

Given this, there is a slew of growth opportunities for the company. Ballard stock, however, is a steal. It trades at just 1.44 times book value, and shares are down a whopping 47% in the last year alone. This comes from missing earnings estimates for the last few quarters in this inflationary environment. That being said, you could receive a huge increase in returns in the near future, with solid growth after that.

Brookfield Renewable

Finally, if you want stability in your life from clean-energy stocks, I would go with Brookfield Renewable Partners (TSX:BEP.UN). Brookfield stock is a solid choice given its diverse set of assets that are located around the world. Plus, its backed by a parent company that’s been investing in clean energy production since its inception in the late 1800s!

Again, Brookfield stock has been going through trouble as well. The stock climbed to all-time highs with the promise from then new president Joe Biden that there would be a shift to clean energy. However, inflation and interest rates got in the way, and the company continues to struggle with this.

That being said, it’s also created new partnerships and opportunities. And there is no doubt that a clean energy future isn’t just coming — it’s here. With Brookfield stock invested in every type of clean and renewable project out there, it’s certainly bound for growth.

Shares of Brookfield stock are down 24% in the last year, and you can bring in a 4.76% dividend yield as of writing.

The post 3 Clean Energy Stocks for Plenty of Green Returns appeared first on The Motley Fool Canada.

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Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in March 2023… and Brookfield Renewable Partners wasn’t on the list.

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See the 5 Stocks
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More reading

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  • My 4 Favourite Stocks Right Now
  • Got $5,000? 3 TSX Stocks You Can Confidently Own for the Next 20 Years
  • 2 Top Energy Stocks to Buy Right Now
  • 4 Dividend Stocks Dishing Out Monthly Passive Income

Fool contributor Amy Legate-Wolfe has positions in Brookfield Renewable Partners. The Motley Fool recommends Brookfield Renewable Partners. The Motley Fool has a disclosure policy.

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