TerraForm Power, Inc. (NASDAQ:TERP) Position Raised by Legal & General Group Plc
Legal & General Group Plc raised its position in shares of TerraForm Power, Inc. (NASDAQ:TERP) by 17.7% during the first quarter, Holdings Channel reports. The firm owned 33,047 shares of the solar energy provider’s stock after buying an additional 4,979 shares during the period. Legal & General Group Plc’s holdings in TerraForm Power were worth $408,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Bank of New York Mellon Corp raised its stake in shares of TerraForm Power by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 411,403 shares of the solar energy provider’s stock worth $5,088,000 after buying an additional 23,051 shares during the period. Rubric Capital Management LP acquired a new stake in shares of TerraForm Power during the first quarter worth $5,009,000. Teachers Advisors LLC raised its stake in shares of TerraForm Power by 2.7% in the first quarter. Teachers Advisors LLC now owns 155,648 shares of the solar energy provider’s stock worth $1,925,000 after buying an additional 4,076 shares during the period. Parametric Portfolio Associates LLC raised 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. Finally, American International Group Inc. raised 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 worth $666,000 after buying an additional 3,559 shares during the period. Hedge funds and other institutional investors own 81.88% of the company’s stock.
TerraForm Power, Inc. (NASDAQ TERP) opened at 13.0999 on Monday. The company’s market cap is $1.63 billion. TerraForm Power, Inc. has a 12-month low of $10.99 and a 12-month high of $14.69. The firm’s 50-day moving average price is $12.24 and its 200-day moving average price is $12.15.
TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings data 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. The business had revenue of $135.22 million during the quarter. TerraForm Power had a negative return on equity of 4.59% and a negative net margin of 19.84%. Analysts expect that TerraForm Power, Inc. will post ($1.02) EPS for the current year.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.dailypolitical.com/2017/08/07/terraform-power-inc-nasdaqterp-position-raised-by-legal-general-group-plc.html.
TERP has been the subject of a number of recent analyst reports. Zacks Investment Research lowered TerraForm Power from a “buy” rating to a “strong sell” rating in a research note on Saturday. BidaskClub upgraded TerraForm Power from a “sell” rating to a “hold” rating in a research note 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. The stock has an average rating of “Hold” and an average target price of $12.90.
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.
Want to see what other hedge funds are holding TERP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TerraForm Power, Inc. (NASDAQ:TERP).
Receive News & Ratings for TerraForm Power Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TerraForm Power Inc. and related companies with MarketBeat.com's FREE daily email newsletter.