Why I Just Bought More of This 7%-Yielding Renewable Energy Stock

Despite a strong year, the renewable power company has lost 20% of its value, which has pushed its dividend yield up to 7%. That lower price was an opportunity I couldn't pass up, which is why I recently boosted my position in the renewable power company.

Brookfield Renewable Partners (NYSE:BEP) is having another strong year both operationally and financially. Through the third quarter, the company's cash flow has increased by more than 30% after adjusting for foreign exchange fluctuations and some other issues. One factor powering the company's growth is the acquisitions of sizable stakes in both TerraForm Power (NASDAQ:TERP) and its sibling TerraForm Global.

Source: Motley Fool

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