TerraForm Power, Inc. (TERP) Receives Average Rating of “Hold” from Brokerages
TerraForm Power, Inc. (NASDAQ:TERP) has been assigned an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $13.63.
Several research analysts have recently commented on TERP shares. Zacks Investment Research raised TerraForm Power from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Robert W. Baird reissued a “hold” rating and issued a $13.00 price target on shares of TerraForm Power in a research report on Friday, October 13th. Bank of America Corporation started coverage on TerraForm Power in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $11.00 price target for the company. J P Morgan Chase & Co reissued a “neutral” rating and issued a $13.00 price target on shares of TerraForm Power in a research report on Thursday, October 19th. Finally, BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a research report on Monday, July 31st.
In related news, major shareholder Brookfield Asset Management In sold 625,000 shares of the business’s stock in a transaction on Monday, October 9th. The stock was sold at an average price of $12.95, for a total transaction of $8,093,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 34.55% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew 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 during the last quarter. Timber Hill LLC purchased a new stake in TerraForm Power during the 3rd quarter valued at about $146,000. Verition Fund Management LLC purchased a new stake in TerraForm Power during the 2nd quarter valued at about $173,000. LMR Partners LLP purchased a new stake in TerraForm Power during the 2nd quarter valued at about $233,000. Finally, UBS Asset Management Americas Inc. grew its stake in TerraForm Power by 71.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 26,815 shares of the solar energy provider’s stock valued at $332,000 after purchasing an additional 11,161 shares during the last quarter. Institutional investors and hedge funds own 54.36% of the company’s stock.
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Shares of TerraForm Power (NASDAQ:TERP) traded up $0.38 during midday trading on Thursday, reaching $12.81. The company’s stock had a trading volume of 418,500 shares, compared to its average volume of 523,510. The company has a debt-to-equity ratio of 1.08, a current ratio of 0.84 and a quick ratio of 0.84. TerraForm Power has a 1-year low of $10.99 and a 1-year high of $14.50.
TerraForm Power (NASDAQ:TERP) last issued its earnings results on Thursday, November 9th. The solar energy provider reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.04). The firm had revenue of $153.43 million for the quarter, compared to the consensus estimate of $152.18 million. TerraForm Power had a negative net margin of 21.83% and a negative return on equity of 5.87%. research analysts expect that TerraForm Power will post -1.02 earnings per share for the current fiscal year.
TerraForm Power Company 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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