Brookfield Asset Management Inc. Takes Position in TerraForm Global, Inc. (GLBL)
Brookfield Asset Management Inc. bought a new position in TerraForm Global, Inc. (NASDAQ:GLBL) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 19,536,004 shares of the energy company’s stock, valued at approximately $98,657,000. Brookfield Asset Management Inc. owned approximately 17.29% of TerraForm Global at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Banco BTG Pactual S.A. lifted its stake in TerraForm Global by 60.5% in the 2nd quarter. Banco BTG Pactual S.A. now owns 1,611,106 shares of the energy company’s stock worth $8,136,000 after purchasing an additional 607,588 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in TerraForm Global by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 76,166 shares of the energy company’s stock worth $384,000 after purchasing an additional 219 shares in the last quarter. Sather Financial Group Inc purchased a new position in TerraForm Global in the 2nd quarter worth approximately $510,000. Alpine Global Management LLC purchased a new position in TerraForm Global in the 2nd quarter worth approximately $253,000. Finally, BlueCrest Capital Management Ltd purchased a new position in TerraForm Global in the 2nd quarter worth approximately $151,000. 49.78% of the stock is currently owned by institutional investors and hedge funds.
TerraForm Global, Inc. (NASDAQ GLBL) traded down 0.510% on Friday, reaching $4.875. 162,962 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $4.85 and a 200-day moving average of $4.85. TerraForm Global, Inc. has a 12-month low of $3.40 and a 12-month high of $5.10. The company’s market cap is $550.73 million.
TerraForm Global (NASDAQ:GLBL) last released its quarterly earnings results on Wednesday, August 9th. The energy company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The business had revenue of $62.50 million during the quarter, compared to analyst estimates of $66.33 million. TerraForm Global had a negative net margin of 26.87% and a negative return on equity of 6.15%. During the same quarter in the prior year, the company earned $0.01 earnings per share. Equities analysts expect that TerraForm Global, Inc. will post ($0.16) EPS for the current fiscal year.
A number of research firms have weighed in on GLBL. Zacks Investment Research lowered shares of TerraForm Global from a “buy” rating to a “hold” rating in a research note on Monday, October 9th. ValuEngine lowered shares of TerraForm Global from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Finally, BidaskClub raised shares of TerraForm Global from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. TerraForm Global currently has an average rating of “Hold” and a consensus target price of $5.13.
TerraForm Global Company Profile
TerraForm Global, Inc is a holding company. The Company is a diversified renewable energy company that owns contracted solar and wind power plants. The Company operates through two segments: Solar Energy and Wind Energy. The segments include the Company’s entire portfolio of power plants. The Company’s portfolio consisted of solar and wind power plants located in Brazil, China, India, Malaysia, South Africa, Thailand and Uruguay with an aggregate net capacity of 916.4 megawatts (MW) as of October 31, 2016.
Want to see what other hedge funds are holding GLBL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TerraForm Global, Inc. (NASDAQ:GLBL).
Receive News & Ratings for TerraForm Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TerraForm Global Inc. and related companies with MarketBeat.com's FREE daily email newsletter.