TerraForm Power (NASDAQ:TERP) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, June 13th.
A number of other research firms also recently weighed in on TERP. Goldman Sachs Group downgraded TerraForm Power from a “neutral” rating to a “sell” rating in a research report on Thursday, March 15th. Royal Bank of Canada began coverage on TerraForm Power in a research report on Wednesday, April 4th. They issued an “outperform” rating and a $13.00 target price for the company. JPMorgan Chase & Co. raised TerraForm Power from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Thursday, May 3rd. ValuEngine raised shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Thursday, May 3rd. Finally, Zacks Investment Research raised shares of TerraForm Power from a “hold” rating to a “strong-buy” rating and set a $13.00 target price on the stock in a research note on Tuesday, May 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. TerraForm Power currently has an average rating of “Hold” and an average target price of $13.67.
Shares of TerraForm Power opened at $11.64 on Wednesday, according to Marketbeat. TerraForm Power has a 1 year low of $10.02 and a 1 year high of $14.20. The stock has a market cap of $1.74 billion, a PE ratio of -9.62 and a beta of 1.02. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.64 and a current ratio of 0.64.
TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings data on Tuesday, May 1st. The solar energy provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.75. TerraForm Power had a negative return on equity of 0.11% and a negative net margin of 8.33%. The firm had revenue of $127.55 million during the quarter, compared to analyst estimates of $145.30 million. equities research analysts anticipate that TerraForm Power will post 0.2 earnings per share for the current year.
In related news, major shareholder Brookfield Asset Management In acquired 60,975,609 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was acquired at an average price of $10.66 per share, with a total value of $649,999,991.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.01% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC raised its position in shares of 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 buying an additional 8,952 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in TerraForm Power in the fourth quarter worth about $151,000. Aperio Group LLC acquired a new position in TerraForm Power in the first quarter worth about $216,000. MetLife Investment Advisors LLC acquired a new position in TerraForm Power in the fourth quarter worth about $249,000. Finally, SG Americas Securities LLC acquired a new position in TerraForm Power in the first quarter worth about $256,000. 47.48% of the stock is owned by institutional investors and hedge funds.
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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