TerraForm Power, Inc. (TERP) Raised to “Hold” at Zacks Investment Research
TerraForm Power, Inc. (NASDAQ:TERP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other brokerages have also issued reports on TERP. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 price objective on shares of TerraForm Power in a report on Sunday, September 3rd. BidaskClub raised TerraForm Power from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $12.90.
Shares of TerraForm Power (TERP) traded up 0.15% during trading on Wednesday, hitting $13.32. The stock had a trading volume of 46,369 shares. The stock’s 50-day moving average is $13.35 and its 200-day moving average is $12.55. TerraForm Power has a 12-month low of $10.99 and a 12-month high of $14.69. The stock’s market cap is $1.66 billion.
TerraForm Power (NASDAQ:TERP) last issued 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 firm had revenue of $135.22 million for the quarter. TerraForm Power had a negative return on equity of 5.81% and a negative net margin of 24.72%. On average, equities research analysts expect that TerraForm Power will post ($0.73) EPS for the current year.
A number of large investors have recently made changes to their positions in the stock. Verition Fund Management LLC acquired a new stake in TerraForm Power in the second quarter valued at about $173,000. Aquamarine Capital Management LLC acquired a new stake in TerraForm Power in the second quarter valued at about $2,513,000. State Street Corp lifted its position in TerraForm Power by 4.1% in the second quarter. State Street Corp now owns 1,602,705 shares of the solar energy provider’s stock valued at $19,233,000 after purchasing an additional 63,271 shares during the period. AHL Partners LLP acquired a new stake in TerraForm Power in the second quarter valued at about $411,000. Finally, Tudor Investment Corp ET AL lifted its position in TerraForm Power by 110.5% in the second quarter. Tudor Investment Corp ET AL now owns 29,690 shares of the solar energy provider’s stock valued at $356,000 after purchasing an additional 15,588 shares during the period. Hedge funds and other institutional investors own 80.76% of the company’s stock.
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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