Bought BN. just over a year ago after heads-up from LondonYank (thank you)...article below in FT today;

Brookfield, one of the world’s largest owners of renewable power, is hunting for bargains in the solar and wind sector, in a bet that investor panic over Donald Trump’s anti-green agenda has been overdone.

Brookfield’s president Connor Teskey said the group, which manages $126bn in renewable energy and lower-carbon investments, was actively looking for big listed sustainable energy producers to buy.

His comments are a vote of confidence in a sector that has been hit by Trump’s sweeping cuts to green energy initiatives, as the new president moves to dismantle Joe Biden’s climate and industrial legacy.

“The [difference] between public market valuations and private market valuations in this space is very large right now [meaning] we expect there will be investment opportunities [among listed companies],” said Teskey in an interview with the Financial Times.

“With the current position of the public markets we’re certainly monitoring a few things,” he added.

Brookfield plans to keep investing in renewable energy even as Trump has moved to slash support for the sector in favour of bolstering oil and gas production. Teskey said soaring electricity demand in the US from power-hungry data centres meant that sustainable energy sources would continue to be in demand.

“The scale of the demand growth requires companies to use any and all types of power generation solutions. Renewables are going to benefit from that and will play a leading role because of their low-cost position,” he added.

Shares in listed renewable energy companies such as First Solar, XPLR Infrastructure and Vestas Wind Systems have fallen sharply since Trump’s election in November, as traders forecast a bleak outlook for such companies in the US.

In his first week in office, Trump ordered a moratorium on offshore wind approvals and paused hundreds of billions of dollars of incentives for green energy.

However, Teskey said Trump’s “focus on growth, industrialisation, and American excellence” was creating a growing demand for electricity in the US”, adding that large technology companies were in fact “looking to acquire more clean power than ever before”.

Last year, Brookfield acquired a majority stake in French renewable power producer Neoen and acquired four large UK wind farms from struggling Danish developer Ørsted.

Its renewable business also struck a deal with Microsoft to develop 10.5 gigawatts of green energy capacity for the technology group’s data centres, potentially costing more than $10bn.

In financial results released on Wednesday, Brookfield’s earnings were buoyed by strong fundraising in its renewable power and credit-oriented investment business.

In the fourth quarter, Brookfield raised a record $29bn in new investor cash, including $3.5bn for its second fund targeting so-called “energy transition”. The fund, which will close by mid-year, is already larger than a predecessor $15bn pool of cash Brookfield raised in 2022.

Brookfield added $137bn in new investor cash during 2024, a figure that was bolstered by some large acquisitions.

The new cash to invest caused Brookfield’s fourth-quarter fee-related earnings to reach a record $688mn, a 17 per cent increase from this time last year, slightly surpassing analyst forecasts.

Earlier this month, Brookfield changed its headquarters from Toronto to New York in a bid to increase its shareholder base and eventually gain inclusion in the S&P 500 index.

UKW down 10% YTD ex div.... 22% discount... £4.5bn assets going cheap... (yes I just added more)...

Why not think of it as is Brookfield a company that can build intrinsic value over 10,20, 30 years? From what i see BN is currently around 17-18 x a multiple of its underlying earnings atm... do you believe management's estimation of future growth? Do you understand the company, I have been trying to absorb information to understand its different income streams, the Asset Management Business, the Wealth Solutions business, and their operating businesses. Maybe you could just take the market cap of all of the listed businesses and compare to the current market cap of BN? You may see that some of their businesses are coming in for free! What about the conglomerate discount? For me I have just bought some more as I think it will compound in value for the ext 20 years .

Over the decades we have seen that just buying the "best" and speculating/gambling it's going to be the best in 20 years is not the best way of managing money in my view.

Unfortunately most Professional's and PIs seem to think it is. My view is based on managing money via many Products and Services.

The most important issue is are they under or overvalued to-day. Just buy at 12 month high is speculating when the SP was much lower during the last 12 months.

Investors buying SMT/EWI at all time highs will not be happy that it was the "best" then. The later were clearly overvalued by weight of money and then investors turned on the "best". and as SP underperformed the nav they turned negative all with in a very short time ....who forecast this??

I believe SP (fact0 is more important than the fiction of what will happen next week or in 20 years time. We all appreciate the world is changing and if we had taken a view on the SP we would all be holding say Vodaphone which was one of the "best"....clearly not a good investment as shareholders were overpaying for the "best" yet again.

In order to make a decision I wish to know which is cheaper to-day either BN or PSH. Sadly I have know idea what will happen in next few years.

I appreciate that many find my thoughts difficult but they have developed over the years and luckily I Neve got trapped constrained by. "textbook methods".

You will appreciate I am not going to win friends and get many "thanks". the later is easy but I am not that needy.
I

@BBOY

In order for you to work out if PSH or BN is better value you are going to have to roll your sleeves up and work out the intrinsic value of the underlying companies in PSH.... or just go by the discount to NAV of PSH compared to the discount to plan value of BN.... Are you brave enought to do that? The BN conference call going on at the moment, the CEO of BN says the plan value is $100 per share (what is plan value, is it the NAV? ) so PSH at what 30% discount or BN at 40% discount? I wish it was as simple as comparing discounts!