TerraForm Power, Inc. (NASDAQ:TERP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday, September 6th.
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. “
A number of other research firms have also recently commented on TERP. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 price target on shares of TerraForm Power in a research note on Sunday, September 3rd. BidaskClub raised shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $12.90.
TerraForm Power (NASDAQ TERP) traded down 1.33% on Wednesday, hitting $13.36. The stock had a trading volume of 383,193 shares. TerraForm Power has a 52-week low of $10.99 and a 52-week high of $14.64. The stock’s 50-day moving average is $13.35 and its 200-day moving average is $12.55. The company’s market cap is $1.66 billion.
TerraForm Power (NASDAQ:TERP) last released its quarterly earnings results on Friday, July 21st. The solar energy provider reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.63). TerraForm Power had a negative return on equity of 5.81% and a negative net margin of 24.72%. The firm had revenue of $135.22 million for the quarter. Analysts expect that TerraForm Power will post ($0.73) earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC boosted its position in TerraForm Power by 0.6% in the 1st quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock valued at $134,000 after buying an additional 69 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of TerraForm Power by 1.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 27,138 shares of the solar energy provider’s stock worth $326,000 after purchasing an additional 323 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of TerraForm Power by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 327,371 shares of the solar energy provider’s stock worth $3,929,000 after purchasing an additional 1,979 shares during the period. Alliancebernstein L.P. lifted its position in shares of TerraForm Power by 1.8% in the 2nd quarter. Alliancebernstein L.P. now owns 110,700 shares of the solar energy provider’s stock worth $1,328,000 after purchasing an additional 2,000 shares during the period. Finally, American International Group Inc. lifted its position in shares of TerraForm Power by 7.1% in the 1st quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock worth $666,000 after purchasing an additional 3,559 shares during the period. 80.76% of the stock is owned by institutional investors.
About TerraForm Power
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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