TerraForm Power, Inc. (TERP) Raised to “Hold” at Zacks Investment Research
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. “
A number of other research analysts have also recently commented on TERP. BidaskClub upgraded TerraForm Power from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Robert W. Baird restated a “hold” rating and issued a $13.00 price target on shares of TerraForm Power in a research report on Sunday, September 3rd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. TerraForm Power has an average rating of “Hold” and an average price target of $12.90.
Shares of TerraForm Power (TERP) traded down 1.02% during midday trading on Wednesday, hitting $13.64. 282,008 shares of the stock traded hands. The stock has a 50 day moving average of $13.23 and a 200 day moving average of $12.44. TerraForm Power has a 1-year low of $10.99 and a 1-year high of $14.69. The company’s market capitalization is $1.70 billion.
TerraForm Power (NASDAQ:TERP) last issued its quarterly 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 return on equity of 5.81% and a negative net margin of 24.72%. The company had revenue of $135.22 million during the quarter. Equities research analysts predict that TerraForm Power will post ($0.73) earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in TERP. CarVal Investors LLC acquired a new stake in TerraForm Power in the first quarter valued at about $10,943,000. Vanguard Group Inc. boosted its stake in TerraForm Power by 13.0% in the first quarter. Vanguard Group Inc. now owns 7,197,682 shares of the solar energy provider’s stock valued at $89,036,000 after buying an additional 826,219 shares in the last quarter. Aquamarine Capital Management LLC acquired a new stake in TerraForm Power in the second quarter valued at about $2,513,000. Baillie Gifford & Co. boosted its stake in TerraForm Power by 7.3% in the second quarter. Baillie Gifford & Co. now owns 1,764,812 shares of the solar energy provider’s stock valued at $21,178,000 after buying an additional 120,329 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC boosted its stake in TerraForm Power by 10.4% in the second quarter. Alpine Woods Capital Investors LLC now owns 1,195,600 shares of the solar energy provider’s stock valued at $14,347,000 after buying an additional 112,600 shares in the last quarter. 80.79% of the stock is currently 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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