BAM - My No. 1 Renewable Energy Stock for 2019 Rocketed 37%
A little over a year ago, I selected TerraForm Power (NASDAQ: TERP) as my top renewable energy stock for 2019. It turned out to be a solid pick. While the wind and solar energy producer's shares weren't quite as hot as those of some solar stocks, it still delivered market-beating total returns. Overall, shares of TerraForm gained 37% in 2019. Add in its high-yielding dividend, and the total return approached 45%. That easily outpaced the equally red-hot S&P 500, which produced a 31% total return in 2019.
While TerraForm likely won't deliver quite such strong returns in 2020, the company has plenty of market-beating potential. Here's a look back at what went right in 2019 and why that has TerraForm set up for success in 2020 and beyond.
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