As one of the top players in the renewable energy space, Brookfield Renewable (BEP) is expected to benefit from the favorable policy measures adopted by governments worldwide and increasing investment in the renewable energy space. However, is it wise to buy the units now despite BEP’s high valuation? Read on to learn more.Operating one of the world’s largest publicly-traded renewable power platforms, Brookfield Renewable Partners L.P.'s (NYSE:BEP) portfolio consists of roughly 21,000 MW of capacity and nearly 6,000 generating facilities across North America, South America, Europe and Asia. The price of the Hamilton, Bermuda-based company’s units have climbed 25.3% over the past nine months to close yesterday’s trading session at $37.82. And its funds from operations (FFO) increased 11.5% year-over-year to $242 million for the first quarter, ended March 31, 2021.
However, BEP’s revenue for the quarter came in at $1.02 billion, compared to $1.05 billion in the prior-year quarter. And its net loss came in at $55 million in the quarter versus $89 million in net income in the year-ago period.
BEP has agreed to sell certain assets as part of its capital recycling strategy. Its units have lost 7.5% over the past three months and 6.1% over the past month.