TerraForm Power, Inc. (TERP) Major Shareholder Sells $8,093,750.00 in Stock
TerraForm Power, Inc. (NASDAQ:TERP) major shareholder Brookfield Asset Management In sold 625,000 shares of TerraForm Power stock in a transaction on Monday, October 9th. The shares were sold at an average price of $12.95, for a total value of $8,093,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
TerraForm Power, Inc. (NASDAQ TERP) traded down 0.15% on Tuesday, reaching $13.05. The company had a trading volume of 614,737 shares. The stock’s market capitalization is $1.63 billion. TerraForm Power, Inc. has a 12 month low of $10.99 and a 12 month high of $14.50. The firm has a 50-day moving average of $13.43 and a 200-day moving average of $12.65.
TerraForm Power (NASDAQ:TERP) last released 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). TerraForm Power had a negative net margin of 20.92% and a negative return on equity of 5.75%. The company had revenue of $135.22 million during the quarter. On average, equities research analysts expect that TerraForm Power, Inc. will post ($0.73) earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Zacks Investment Research cut TerraForm Power from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. TheStreet raised TerraForm Power from a “d” rating to a “c-” rating in a research note on Monday, October 2nd. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $13.00 price objective on shares of TerraForm Power in a research note on Sunday, September 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. TerraForm Power currently has a consensus rating of “Hold” and a consensus price target of $12.90.
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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