Brookfield Renewable Partners L.P. (BEP.UN.TO) is emerging as a compelling option for financial advisors seeking defensive, dividend-paying equity positions within today’s volatile market environment. The utilities sector, long regarded as a haven for stability and income, has recently moved into the 13th position in the SIA Sector Report, rising nine spots. This upward sector momentum may be reflecting a rotation into lower-volatility, yield-oriented companies as investors respond to ongoing macroeconomic uncertainty and stock market volatility.
When pairing the SIA Sector Report with the powerful SIA Combined Canadian Dividends Report with an eye peeled for up and coming utility names, Brookfield Renewable stands out as a significant relative strength gainer, having climbed 36 positions over the past month. This movement has lifted BEP.UN.TO from the Unfavoured zone into the Neutral zone, highlighting strengthening relative performance compared to peers. This is particularly meaningful in the context of a market increasingly focused on companies that can combine capital preservation alongside a consistent income stream, where BEP.UN.TO carries a attractive dividend yield of 5.08%.
A technical review of Brookfield Renewable's candlestick chart reveals a multi-year wedge pattern that began forming in 2019. Following an initial false breakout, the stock retested key support levels before confirming a breakout that has since led to a ~20% rally. This move may signal an early shift in investor sentiment toward more stable, income-generating assets; a trend we’re watching closely in other names showing similar behavior. The breakout from this long-term consolidation could also mark the start of a new trend phase for the stock.
From a point and figure chart perspective, using a 2% scale, BEP.UN.TO bottomed in 2024 at $25.30. Since then, it has traded in a well-defined range between $28 and $36 for roughly 18 months before breaking above the key resistance level at $37.59 (see green highlighted zone) as it moved beyond the $38.35 level. The next major resistance lies at $44.05 (see red highlighted zone), with the previous all-time high at $50.60 providing a longer-term P&F target. Support levels are clearly defined at $37.59 (old support), where a three-box reversal would be triggered, while further support is found at $32.73. Importantly, the chart currently displays a bullish Spread Triple Top formation, while the SMAX score of 7 reinforces the stock’s growing near-term relative strength against a basket of alternate asset classes.
In terms of rate of return, Brookfield Renewable continues to outperform its sector across multiple near-term timeframes. Over the past week, and month, BEP.UN.TO has gained 5.57% and 14.53%, respectively, while the utilities sector has posted returns of 2.29%, and 10.81% over the same periods. This consistent outperformance underscores the stock’s strong short-term momentum and improving relative strength within the broader utilities space.
Brookfield Renewable Partners is one of the world’s largest publicly traded renewable power platforms. The company owns and operates a globally diversified portfolio of hydroelectric, wind, solar, and energy storage assets across North and South America, Europe, and Asia. Backed by Brookfield Asset Management, the company leverages deep operational expertise, scale, and a disciplined capital allocation approach to deliver long-term, sustainable returns. With a strategic focus on the global transition to a low-carbon economy, Brookfield Renewable is well-positioned to benefit from long-term structural trends in energy and infrastructure investment. As a note, this asset is also available under the ticker BEPC.TO, which is structured as a corporation rather than a limited partnership. This alternative may be more suitable for cash (non-registered) accounts due to potential tax advantages and simplified reporting.
In summary, Brookfield Renewable Partners offers a unique combination of defensive positioning, income generation, and long-term growth potential through its exposure to renewable energy infrastructure. Its technical breakout, rising strength within the SIA Sector Scope, and consistent outperformance relative to its peers make it a strong candidate for inclusion in diversified, risk-conscious portfolios.
Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.
