TerraForm Power, Inc. (TERP) Rating Lowered to Strong Sell at Zacks Investment Research
TerraForm Power, Inc. (NASDAQ:TERP) was downgraded by Zacks Investment Research from a “buy” rating to a “strong sell” rating in a research report issued on Saturday.
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 “hold” rating to a “buy” rating in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $12.90.
Shares of TerraForm Power (TERP) opened at 13.09 on Friday. The company’s 50-day moving average is $12.24 and its 200-day moving average is $12.15. The company’s market cap is $1.63 billion. TerraForm Power has a 12-month low of $10.99 and a 12-month high of $14.69.
TerraForm Power (NASDAQ:TERP) last released its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by $0.63. The company had revenue of $135.22 million for the quarter. TerraForm Power had a negative net margin of 19.84% and a negative return on equity of 4.59%. Equities research analysts predict that TerraForm Power will post ($1.02) earnings per share for the current year.
Large investors 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. Morgan Stanley boosted its stake in shares of TerraForm Power by 3.4% in the first quarter. Morgan Stanley now owns 3,124,921 shares of the solar energy provider’s stock valued at $38,656,000 after buying an additional 103,906 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of TerraForm Power by 7.4% in the fourth quarter. Teachers Advisors LLC now owns 151,572 shares of the solar energy provider’s stock valued at $1,942,000 after buying an additional 10,476 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of TerraForm Power by 18.3% in the first quarter. Global X Management Co. LLC now owns 28,988 shares of the solar energy provider’s stock valued at $359,000 after buying an additional 4,484 shares in the last quarter. Finally, Gargoyle Investment Advisor L.L.C. acquired a new stake in shares of TerraForm Power during the first quarter valued at $269,000. Institutional investors own 81.85% of the company’s stock.
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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