Bank of New York Mellon Corp decreased its holdings in TerraForm Power, Inc. (NASDAQ:TERP) by 3.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 398,696 shares of the solar energy provider’s stock after selling 12,707 shares during the quarter. Bank of New York Mellon Corp owned 0.32% of TerraForm Power worth $4,784,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. LMR Partners LLP acquired a new stake in TerraForm Power in the 2nd quarter worth about $233,000. Alpine Woods Capital Investors LLC raised its stake in TerraForm Power by 10.4% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 1,195,600 shares of the solar energy provider’s stock worth $14,347,000 after purchasing an additional 112,600 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in 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 purchasing an additional 1,979 shares in the last quarter. Global X Management Co. LLC raised its stake in TerraForm Power by 77.8% in the 2nd quarter. Global X Management Co. LLC now owns 51,554 shares of the solar energy provider’s stock worth $619,000 after purchasing an additional 22,566 shares in the last quarter. Finally, Eventide Asset Management LLC acquired a new stake in TerraForm Power in the 1st quarter worth about $136,000. Institutional investors and hedge funds own 80.76% of the company’s stock.

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Several analysts have weighed in on the stock. Zacks Investment Research cut shares of TerraForm Power from a “hold” rating to a “sell” rating in a research note on Friday. TheStreet upgraded shares of TerraForm Power from a “d” rating to a “c-” rating in a research note on Monday. BidaskClub upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Finally, Robert W. Baird reiterated a “hold” rating and issued a $13.00 price objective on shares of TerraForm Power in a research note on Sunday, September 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.90.

Shares of TerraForm Power, Inc. (NASDAQ TERP) opened at 12.61 on Friday. TerraForm Power, Inc. has a 52 week low of $10.99 and a 52 week high of $14.50. The firm has a 50-day moving average of $13.43 and a 200 day moving average of $12.63. The firm’s market cap is $1.57 billion.

TerraForm Power (NASDAQ:TERP) last released its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.63). The business had revenue of $135.22 million for the quarter. TerraForm Power had a negative net margin of 20.92% and a negative return on equity of 5.71%. Equities research analysts predict that TerraForm Power, Inc. will post ($0.73) EPS for the current fiscal year.

TerraForm Power Profile

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

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