TerraForm Power, Inc. (NASDAQ:TERP) – Oppenheimer Holdings dropped their Q2 2017 EPS estimates for TerraForm Power in a report released on Tuesday. Oppenheimer Holdings analyst C. Rusch now anticipates that the solar energy provider will post earnings per share of ($0.04) for the quarter, down from their prior forecast of ($0.03). Oppenheimer Holdings also issued estimates for TerraForm Power’s Q3 2017 earnings at ($0.05) EPS, Q4 2017 earnings at ($0.27) EPS and FY2017 earnings at ($0.78) EPS.

Several other research firms also recently commented on TERP. Zacks Investment Research downgraded TerraForm Power from a “buy” rating to a “strong sell” rating in a research note on Saturday, August 5th. Robert W. Baird reissued a “hold” rating and issued a $13.00 price objective on shares of TerraForm Power in a research note on Sunday, September 3rd. Finally, BidaskClub raised TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. TerraForm Power currently has a consensus rating of “Hold” and a consensus price target of $12.90.

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Shares of TerraForm Power (NASDAQ TERP) opened at 13.64 on Friday. The stock’s market cap is $1.70 billion. TerraForm Power has a 52 week low of $10.99 and a 52 week high of $14.69. The stock has a 50 day moving average of $13.23 and a 200-day moving average of $12.44.

TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.63. TerraForm Power had a negative net margin of 24.72% and a negative return on equity of 5.81%. The business had revenue of $135.22 million during the quarter.

Several institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC increased its stake in shares of TerraForm Power by 0.6% in the 1st quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock worth $134,000 after acquiring an additional 69 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of TerraForm Power by 1.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 27,138 shares of the solar energy provider’s stock worth $326,000 after acquiring an additional 323 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of TerraForm Power by 0.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 327,371 shares of the solar energy provider’s stock worth $3,929,000 after acquiring an additional 1,979 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of TerraForm Power by 1.8% in the 2nd quarter. Alliancebernstein L.P. now owns 110,700 shares of the solar energy provider’s stock worth $1,328,000 after acquiring an additional 2,000 shares during the last quarter. Finally, American International Group Inc. increased its stake in shares of TerraForm Power by 7.1% in the 1st quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock worth $666,000 after acquiring an additional 3,559 shares during the last quarter. 80.79% of the stock is owned by institutional investors and hedge funds.

About TerraForm Power

TerraForm Power, Inc is a United States-based holding company. The Company owns clean power generation assets. This includes solar and wind assets located in the United States, Canada and other markets. Its clean power generation assets serve utility, commercial and residential customers. As of December 31, 2016, the Company’s portfolio consisted of renewable energy facilities located in the United States, Canada, the United Kingdom and Chile with a combined nameplate capacity of 2,983.1 megawatts.

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