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High interest rates hurt utility companies but as the Bank of Canada’s rate-cutting cycle continues, three Canadian utility stocks are back on investors’ radars. Besides stable returns, Brookfield Renewable Partners (TSX:BEP.UN), Emera (TSX:EMA), and Hydro One (TSX:H) will provide steady passive income streams.
Growth enabler
Brookfield Renewable Partners has advanced 43.6% in the last six months. At $38.56 per share, the year-to-date gain is 15.6%. Notably, a prospective dividend investor will feast on the 4.9% yield.
The $25.2 billion company owns and operates renewable power generating facilities in North America, Brazil, and Colombia, and Brazil. Brookfield’s portfolio includes hydroelectric, wind, and solar. It is also into renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.
Its CEO, Connor Teskey, said, “Renewables…
