Why Brookfield Renewable Stock Sank Today
The stock of Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) dropped one day after the operator of renewable energy generation platforms said it was making a big acquisition in the space. Shares of both Brookfield's partnership units (BEP) and common stock (BEPC) were down by 5.6% as of 12:55 p.m. ET.
Brookfield, along with its institutional partners, agreed to purchase Duke Energy's (NYSE: DUK) commercial renewables business for about $1.05 billion in equity proceeds, or about $2.8 billion, including the assumption of debt and other interests.
Source Fool.com
