TerraForm Power Inc (TERP) Position Raised by Citadel Advisors LLC

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Citadel Advisors LLC increased its holdings in shares of TerraForm Power Inc (NASDAQ:TERP) by 299.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 193,684 shares of the solar energy provider’s stock after acquiring an additional 145,170 shares during the period. Citadel Advisors LLC’s holdings in TerraForm Power were worth $2,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TERP. Rhumbline Advisers grew its stake in TerraForm Power by 11.5% in the first quarter. Rhumbline Advisers now owns 46,480 shares of the solar energy provider’s stock valued at $499,000 after acquiring an additional 4,790 shares during the period. Northern Trust Corp grew its stake in TerraForm Power by 1.3% in the first quarter. Northern Trust Corp now owns 471,681 shares of the solar energy provider’s stock valued at $5,060,000 after acquiring an additional 5,930 shares during the period. Schwab Charles Investment Management Inc. grew its stake in TerraForm Power by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 234,729 shares of the solar energy provider’s stock valued at $2,519,000 after acquiring an additional 6,507 shares during the period. Kayne Anderson Capital Advisors LP grew its stake in TerraForm Power by 31.0% in the first quarter. Kayne Anderson Capital Advisors LP now owns 33,800 shares of the solar energy provider’s stock valued at $362,000 after acquiring an additional 8,000 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in TerraForm Power by 314.4% in the first quarter. Cubist Systematic Strategies LLC now owns 11,799 shares of the solar energy provider’s stock valued at $127,000 after acquiring an additional 8,952 shares during the period. 85.30% of the stock is owned by institutional investors and hedge funds.

TERP has been the subject of a number of research reports. ValuEngine raised TerraForm Power from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. BidaskClub raised TerraForm Power from a “sell” rating to a “hold” rating in a research note on Thursday, May 31st. BMO Capital Markets initiated coverage on TerraForm Power in a research note on Wednesday, July 25th. They issued a “market perform” rating and a $11.50 price objective for the company. Oppenheimer raised TerraForm Power from a “market perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research note on Wednesday, August 15th. Finally, UBS Group raised TerraForm Power from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 15th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $13.44.

Shares of NASDAQ:TERP opened at $11.00 on Friday. The company has a market cap of $2.31 billion, a P/E ratio of -9.09 and a beta of 0.95. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.89 and a current ratio of 0.89. TerraForm Power Inc has a 12-month low of $9.90 and a 12-month high of $14.20.

TerraForm Power (NASDAQ:TERP) last announced its earnings results on Monday, August 13th. The solar energy provider reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The company had revenue of $179.89 million for the quarter, compared to analysts’ expectations of $162.69 million. TerraForm Power had a negative return on equity of 0.29% and a negative net margin of 13.02%. TerraForm Power’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 earnings per share. research analysts predict that TerraForm Power Inc will post 0.41 earnings per share for the current fiscal year.

The business 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 dividend of $0.19 per share. The ex-dividend date is Thursday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 6.91%. TerraForm Power’s payout ratio is -62.81%.

In related news, major shareholder Brookfield Asset Management In bought 60,975,609 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The shares were bought at an average price of $10.66 per share, with a total value of $649,999,991.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.01% of the stock is owned by insiders.

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.

Further Reading: Return on Investment (ROI) Defined, Explained

Want to see what other hedge funds are holding TERP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TerraForm Power Inc (NASDAQ:TERP).

Institutional Ownership by Quarter for TerraForm Power (NASDAQ:TERP)

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