TerraForm Power Inc (TERP) Stake Increased by Rhumbline Advisers
Rhumbline Advisers lifted its holdings in TerraForm Power Inc (NASDAQ:TERP) by 66.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,284 shares of the solar energy provider’s stock after buying an additional 30,804 shares during the period. Rhumbline Advisers owned about 0.05% of TerraForm Power worth $904,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of TERP. Amalgamated Bank acquired a new stake in TerraForm Power during the second quarter valued at $119,000. Cubist Systematic Strategies LLC boosted its position in TerraForm Power by 314.4% during the first quarter. Cubist Systematic Strategies LLC now owns 11,799 shares of the solar energy provider’s stock valued at $127,000 after purchasing an additional 8,952 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in TerraForm Power during the second quarter valued at $212,000. Raymond James Financial Services Advisors Inc. acquired a new stake in TerraForm Power during the second quarter valued at $235,000. Finally, Aperio Group LLC acquired a new stake in TerraForm Power during the first quarter valued at $216,000. 60.42% of the stock is owned by institutional investors and hedge funds.
NASDAQ TERP opened at $11.85 on Wednesday. TerraForm Power Inc has a fifty-two week low of $9.90 and a fifty-two week high of $14.20. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of -9.79 and a beta of 0.95.
The business also recently announced a quarterly dividend, which was paid on Saturday, September 15th. Shareholders of record on Saturday, September 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.76 annualized dividend and a yield of 6.41%. TerraForm Power’s dividend payout ratio (DPR) is currently -62.81%.
TERP has been the subject of a number of research reports. BidaskClub raised TerraForm Power from a “sell” rating to a “hold” rating in a research report on Thursday, May 31st. ValuEngine raised TerraForm Power from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. BMO Capital Markets initiated coverage on TerraForm Power in a research report on Wednesday, July 25th. They set a “market perform” rating and a $11.50 price objective for the company. UBS Group raised TerraForm Power from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 15th. Finally, Oppenheimer upgraded TerraForm Power from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Wednesday, August 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.19.
About TerraForm Power
TerraForm Power, Inc, together with its subsidiaries, owns and operates clean power generation assets. As of December 31, 2017, its portfolio consisted of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with a combined nameplate capacity of 2,606.4 megawatts.
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