TerraForm Power, Inc. (TERP) Stock Rating Reaffirmed by J P Morgan Chase & Co
TerraForm Power, Inc. (NASDAQ:TERP)‘s stock had its “neutral” rating reaffirmed by analysts at J P Morgan Chase & Co in a report issued on Thursday, MarketBeat.com reports. They presently have a $13.00 price target on the solar energy provider’s stock. J P Morgan Chase & Co’s price objective suggests a potential downside of 4.06% from the company’s current price.
TERP has been the subject of a number of other research reports. Zacks Investment Research raised shares of TerraForm Power from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Friday, July 28th. TheStreet raised shares of TerraForm Power from a “d” rating to a “c-” rating in a research note on Monday, October 2nd. BidaskClub raised shares of TerraForm Power from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Robert W. Baird reissued a “hold” rating and set a $13.00 target price on shares of TerraForm Power in a research note on Sunday, September 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.88.
Shares of TerraForm Power (NASDAQ:TERP) traded down 0.95% on Thursday, hitting $13.55. The company had a trading volume of 1,233,658 shares. TerraForm Power has a 12-month low of $11.98 and a 12-month high of $13.80. The company’s market cap is $1.69 billion. The company has a 50 day moving average of $13.25 and a 200-day moving average of $12.68.
TerraForm Power (NASDAQ:TERP) last issued its earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.63). The company had revenue of $135.22 million for the quarter. TerraForm Power had a negative net margin of 20.92% and a negative return on equity of 5.75%. On average, analysts forecast that TerraForm Power will post ($0.73) earnings per share for the current year.
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In related news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 34.55% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its stake in shares of TerraForm Power by 450.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,779 shares of the solar energy provider’s stock valued at $129,000 after purchasing an additional 8,821 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of 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 purchasing an additional 69 shares during the last quarter. Verition Fund Management LLC bought a new position in TerraForm Power in the 2nd quarter worth $173,000. LMR Partners LLP bought a new position in TerraForm Power in the 2nd quarter worth $233,000. Finally, UBS Asset Management Americas Inc. raised its holdings in TerraForm Power by 71.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 26,815 shares of the solar energy provider’s stock worth $332,000 after acquiring an additional 11,161 shares during the period. 80.76% of the stock is 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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