TerraForm Power Inc (NASDAQ:TERP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

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. “

Separately, BidaskClub upgraded TerraForm Power from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $12.70.

TerraForm Power (TERP) remained flat at $12.25 during midday trading on Wednesday. 216,162 shares of the company traded hands. TerraForm Power has a 52-week low of $10.99 and a 52-week high of $14.69. The firm’s 50 day moving average price is $12.02 and its 200 day moving average price is $12.15. The company’s market cap is $1.53 billion.

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Several hedge funds have recently made changes to their positions in TERP. SG Americas Securities LLC increased its stake in shares of TerraForm Power by 0.6% in the first quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock worth $134,000 after buying an additional 69 shares in the last quarter. American International Group Inc. increased its stake in shares of TerraForm Power by 7.1% in the first quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock worth $666,000 after buying an additional 3,559 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of TerraForm Power by 2.7% in the first quarter. Teachers Advisors LLC now owns 155,648 shares of the solar energy provider’s stock worth $1,925,000 after buying an additional 4,076 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of TerraForm Power by 18.3% in the first quarter. Global X Management Co. LLC now owns 28,988 shares of the solar energy provider’s stock worth $359,000 after buying an additional 4,484 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of TerraForm Power by 17.7% in the first quarter. Legal & General Group Plc now owns 33,047 shares of the solar energy provider’s stock worth $408,000 after buying an additional 4,979 shares in the last quarter. Institutional investors own 80.42% of the company’s stock.

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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Analyst Recommendations for TerraForm Power (NASDAQ:TERP)

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