TerraForm Power (TERP) Lifted to “Sell” at BidaskClub

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BidaskClub upgraded shares of TerraForm Power (NASDAQ:TERP) from a strong sell rating to a sell rating in a research note released on Friday.

A number of other equities research analysts have also commented on the company. Zacks Investment Research raised TerraForm Power from a hold rating to a strong-buy rating and set a $13.00 price target on the stock in a research report on Tuesday, May 8th. 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 research report on Thursday, May 3rd. ValuEngine raised TerraForm Power from a sell rating to a hold rating in a research report on Saturday, June 2nd. UBS Group raised TerraForm Power from a market perform rating to an outperform rating in a research report on Wednesday, August 15th. Finally, BMO Capital Markets started coverage on TerraForm Power in a research report on Wednesday, July 25th. They set a market perform rating and a $11.50 price target on the stock. Four research analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. TerraForm Power currently has an average rating of Hold and a consensus price target of $13.44.

NASDAQ TERP opened at $11.25 on Friday. The stock has a market cap of $1.58 billion, a PE ratio of -9.30 and a beta of 0.90. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.41. TerraForm Power has a one year low of $9.90 and a one year high of $14.20.

TerraForm Power (NASDAQ:TERP) last released its quarterly earnings results on Monday, August 13th. The solar energy provider reported ($0.13) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.13). The company had revenue of $179.89 million for the quarter, compared to analyst estimates of $162.69 million. TerraForm Power had a negative return on equity of 0.11% and a negative net margin of 8.33%. TerraForm Power’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 earnings per share. research analysts anticipate that TerraForm Power will post 0.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 15th. Investors of record on Saturday, September 1st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date is Thursday, August 30th. TerraForm Power’s dividend payout ratio is presently -62.81%.

In other news, major shareholder Brookfield Asset Management In bought 60,975,609 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were acquired at an average price of $10.66 per share, with a total value of $649,999,991.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.01% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in TerraForm Power by 7.8% in the 2nd quarter. BlackRock Inc. now owns 6,055,988 shares of the solar energy provider’s stock valued at $70,855,000 after buying an additional 437,017 shares during the last quarter. Baillie Gifford & Co. bought a new position in TerraForm Power in the second quarter valued at approximately $21,748,000. Guggenheim Capital LLC grew its stake in TerraForm Power by 23.8% in the first quarter. Guggenheim Capital LLC now owns 1,330,005 shares of the solar energy provider’s stock valued at $14,272,000 after purchasing an additional 255,776 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in TerraForm Power by 98.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,322,224 shares of the solar energy provider’s stock valued at $15,470,000 after purchasing an additional 656,462 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in TerraForm Power by 11,470.6% in the first quarter. Royal Bank of Canada now owns 904,013 shares of the solar energy provider’s stock valued at $9,699,000 after purchasing an additional 896,200 shares in the last quarter. 48.06% of the stock is currently 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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Analyst Recommendations for TerraForm Power (NASDAQ:TERP)

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