TerraForm Power, Inc. (TERP) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of TerraForm Power, Inc. (NASDAQ:TERP) from a sell rating to a hold rating in a report published on Friday.
According to Zacks, “TerraForm Power, Inc. is global renewable energy company. It operates clean power generation assets such as solar, wind, natural gas, geothermal and hydro-electricity. The Company owns and operates solar generation assets serving utility, commercial, and residential customers. TerraForm Power, Inc. is based in Beltsville, Maryland. “
Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of TerraForm Power from a hold rating to a buy rating in a research note on Monday, July 31st. Robert W. Baird restated a hold rating and set a $13.00 price target on shares of TerraForm Power in a research note on Sunday, September 3rd. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of Hold and an average price target of $12.90.
Shares of TerraForm Power (NASDAQ TERP) traded down 0.86% during midday trading on Friday, hitting $13.22. 301,319 shares of the company traded hands. The company has a 50-day moving average price of $13.35 and a 200-day moving average price of $12.55. TerraForm Power has a 52 week low of $10.99 and a 52 week high of $14.64. The stock’s market capitalization is $1.65 billion.
TerraForm Power (NASDAQ:TERP) last posted its earnings results on Friday, July 21st. The solar energy provider reported ($0.94) 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 firm had revenue of $135.22 million for the quarter. Analysts anticipate that TerraForm Power will post ($0.73) earnings per share for the current fiscal year.
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Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in TerraForm Power by 450.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,779 shares of the solar energy provider’s stock valued at $129,000 after purchasing an additional 8,821 shares in the last quarter. SG Americas Securities LLC increased its stake in TerraForm Power by 0.6% during the 1st quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock valued at $134,000 after purchasing an additional 69 shares in the last quarter. Eventide Asset Management LLC acquired a new position in TerraForm Power during the 1st quarter valued at approximately $136,000. Verition Fund Management LLC acquired a new position in TerraForm Power during the 2nd quarter valued at approximately $173,000. Finally, LMR Partners LLP acquired a new position in TerraForm Power during the 2nd quarter valued at approximately $233,000. Institutional investors and hedge funds own 80.76% of the company’s stock.
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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