Zacks Investment Research Lowers TerraForm Power, Inc. (TERP) to Sell

Zacks Investment Research cut shares of TerraForm Power, Inc. (NASDAQ:TERP) from a hold rating to a sell rating in a research note issued to investors on Thursday, July 13th.

According to Zacks, “TerraForm Power, Inc. is global renewable energy company. It operates clean power generation assets such as solar, wind, natural gas, geothermal and hydro-electricity. The Company owns and operates solar generation assets serving utility, commercial, and residential customers. TerraForm Power, Inc. is based in Beltsville, Maryland. “

Separately, BidaskClub upgraded shares of TerraForm Power from a sell rating to a hold rating in a research report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $12.90.

TerraForm Power (NASDAQ TERP) opened at 12.81 on Thursday. The firm’s 50-day moving average is $12.24 and its 200 day moving average is $12.15. The firm’s market cap is $1.60 billion. TerraForm Power has a 1-year low of $10.99 and a 1-year high of $14.69.

TerraForm Power (NASDAQ:TERP) last issued its quarterly earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by $0.63. The company had revenue of $135.22 million for the quarter. TerraForm Power had a negative return on equity of 4.59% and a negative net margin of 19.84%. On average, equities analysts forecast that TerraForm Power will post ($1.02) earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the company. American International Group Inc. boosted its stake in shares of TerraForm Power by 7.1% in the first quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock valued at $666,000 after buying an additional 3,559 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of TerraForm Power by 0.6% in the first quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock worth $134,000 after buying an additional 69 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of TerraForm Power by 54.4% in the first quarter. Parametric Portfolio Associates LLC now owns 91,722 shares of the solar energy provider’s stock worth $1,135,000 after buying an additional 32,331 shares during the period. Karp Capital Management Corp bought a new stake in shares of TerraForm Power during the first quarter worth approximately $387,000. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of TerraForm Power by 71.3% in the first quarter. UBS Asset Management Americas Inc. now owns 26,815 shares of the solar energy provider’s stock worth $332,000 after buying an additional 11,161 shares during the period. 81.88% of the stock is owned by hedge funds and other institutional investors.

TerraForm Power Company Profile

TerraForm Power, Inc is a United States-based holding company. The Company owns clean power generation assets. This includes solar and wind assets located in the United States, Canada and other markets. Its clean power generation assets serve utility, commercial and residential customers. As of December 31, 2016, the Company’s portfolio consisted of renewable energy facilities located in the United States, Canada, the United Kingdom and Chile with a combined nameplate capacity of 2,983.1 megawatts.

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