TerraForm Power, Inc. (NASDAQ:TERP) – Investment analysts at Oppenheimer Holdings decreased their Q3 2017 earnings per share (EPS) estimates for TerraForm Power in a report released on Monday. Oppenheimer Holdings analyst C. Rusch now anticipates that the solar energy provider will post earnings per share of ($0.24) for the quarter, down from their prior forecast of ($0.05). Oppenheimer Holdings also issued estimates for TerraForm Power’s Q4 2017 earnings at ($0.45) EPS and FY2017 earnings at ($1.00) EPS.

TerraForm Power (NASDAQ:TERP) last issued its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.63). The company had revenue of $135.22 million during the quarter. TerraForm Power had a negative return on equity of 5.71% and a negative net margin of 20.92%.

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A number of other analysts have also recently commented on the company. Zacks Investment Research raised TerraForm Power from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Robert W. Baird reissued a “hold” rating and issued a $13.00 price target on shares of TerraForm Power in a research report on Sunday, September 3rd. Finally, BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. TerraForm Power currently has a consensus rating of “Hold” and an average target price of $12.90.

Shares of TerraForm Power (TERP) opened at 12.87 on Thursday. TerraForm Power has a 52 week low of $10.99 and a 52 week high of $14.50. The stock has a 50 day moving average price of $13.45 and a 200 day moving average price of $12.63. The stock’s market capitalization is $1.60 billion.

Institutional investors and hedge funds have recently modified their holdings of the company. Alpine Woods Capital Investors LLC boosted its position in shares of 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. Baillie Gifford & Co. boosted its position in shares of TerraForm Power by 7.3% in the 2nd quarter. Baillie Gifford & Co. now owns 1,764,812 shares of the solar energy provider’s stock worth $21,178,000 after purchasing an additional 120,329 shares in the last quarter. American International Group Inc. boosted its position in shares of TerraForm Power by 7.1% in the 1st 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 in the last quarter. Morgan Stanley boosted its position in shares of TerraForm Power by 3.4% in the 1st quarter. Morgan Stanley now owns 3,124,921 shares of the solar energy provider’s stock worth $38,656,000 after purchasing an additional 103,906 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of TerraForm Power in the 1st quarter worth approximately $400,000. 80.76% of the stock is currently owned by hedge funds and other institutional investors.

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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