TerraForm Power, Inc. (TERP) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of TerraForm Power, Inc. (NASDAQ:TERP) have received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $12.63.
A number of research firms have weighed in on TERP. Zacks Investment Research upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday, September 29th. BidaskClub raised shares of TerraForm Power from a “sell” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Robert W. Baird reissued a “hold” rating and set a $13.00 target price on shares of TerraForm Power in a research report on Sunday, September 3rd.
A number of institutional investors have recently made changes to their positions in TERP. SG Americas Securities LLC raised its stake in TerraForm Power by 0.6% in the 1st quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock valued at $134,000 after acquiring an additional 69 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in TerraForm Power by 1.2% during the second quarter. UBS Asset Management Americas Inc. now owns 27,138 shares of the solar energy provider’s stock valued at $326,000 after purchasing an additional 323 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in TerraForm Power by 0.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 327,371 shares of the solar energy provider’s stock valued at $3,929,000 after purchasing an additional 1,979 shares during the last quarter. Alliancebernstein L.P. boosted its position in TerraForm Power by 1.8% during the second quarter. Alliancebernstein L.P. now owns 110,700 shares of the solar energy provider’s stock worth $1,328,000 after purchasing an additional 2,000 shares during the period. Finally, American International Group Inc. boosted its position in TerraForm Power by 7.1% during the first quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock worth $666,000 after purchasing an additional 3,559 shares during the period. Institutional investors and hedge funds own 80.76% of the company’s stock.
TerraForm Power (NASDAQ TERP) traded up 0.08% during trading on Wednesday, hitting $13.02. 244,998 shares of the stock were exchanged. The firm’s 50-day moving average is $13.46 and its 200 day moving average is $12.63. The firm’s market cap is $1.62 billion. TerraForm Power has a 52 week low of $10.99 and a 52 week high of $14.50.
TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.63). TerraForm Power had a negative net margin of 20.92% and a negative return on equity of 5.71%. The company had revenue of $135.22 million for the quarter. Analysts expect that TerraForm Power will post ($0.73) 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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