Canadian Renewables Stocks Deliver Benefits – The Energy Mix
Shares in three Canadian renewable energy companies surged in 2019, producing a “pleasant side benefit” to investors who may have signed on for the good of the planet by “delivering gains that mock the fossil fuel-clinging political leadership in Washington,” the Globe and Mail reported in mid-December.
Northland Power Inc., which operates solar and wind farms in Canada and Europe, saw its share prices rise 27%, the Globe said. Algonquin Power & Utilities Corporation, which owns wind, solar, and hydro facilities in Canada and the U.S., increased 34%. And global hydro, wind, and solar investor Brookfield Renewable Partners LP soared by nearly 72%.
“Not bad for utilities, and these returns don’t include the stocks’ impressive dividends,” wrote investment reporter David Berman. “The gains have easily beaten the broad S&P/TSX Composite Index, which is up 18.7% [in 2019]. And consider that the fossil fuel-heavy S&P/TSX Energy Index trails with gains of just 12.6%.”