Strategic Value Partners LLC bought a new position in shares of TerraForm Power, Inc. New (NASDAQ:TERP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,904,890 shares of the solar energy provider’s stock, valued at approximately $166,302,000. TerraForm Power, Inc. New makes up approximately 19.9% of Strategic Value Partners LLC’s investment portfolio, making the stock its largest holding. Strategic Value Partners LLC owned about 9.89% of TerraForm Power, Inc. New as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TIAA CREF Investment Management LLC acquired a new position in shares of TerraForm Power, Inc. New during the fourth quarter worth $964,000. HBK Investments L P acquired a new position in shares of TerraForm Power, Inc. New during the fourth quarter worth $533,000. Two Sigma Investments LP lifted its position in shares of TerraForm Power, Inc. New by 76.9% during the fourth quarter. Two Sigma Investments LP now owns 160,646 shares of the solar energy provider’s stock worth $1,921,000 after purchasing an additional 69,846 shares in the last quarter. Deutsche Bank AG lifted its position in shares of TerraForm Power, Inc. New by 220.4% during the fourth quarter. Deutsche Bank AG now owns 259,162 shares of the solar energy provider’s stock worth $3,099,000 after purchasing an additional 178,269 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP acquired a new position in shares of TerraForm Power, Inc. New during the fourth quarter worth $308,000. 43.99% of the stock is currently owned by institutional investors and hedge funds.
TERP has been the topic of a number of recent research reports. TheStreet cut shares of TerraForm Power, Inc. New from a “c-” rating to a “d+” rating in a research report on Thursday, November 30th. Goldman Sachs Group initiated coverage on shares of TerraForm Power, Inc. New in a report on Monday, November 27th. They issued a “neutral” rating and a $13.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. TerraForm Power, Inc. New presently has a consensus rating of “Hold” and a consensus target price of $14.00.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Wednesday, February 28th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $0.76 annualized dividend and a yield of 6.74%. TerraForm Power, Inc. New’s dividend payout ratio is presently -52.78%.
In related news, CEO John Stinebaugh purchased 8,100 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The shares were purchased at an average cost of $12.42 per share, with a total value of $100,602.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,100 shares of the company’s stock, valued at approximately $100,602. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 34.55% of the company’s stock.
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TerraForm Power, Inc. New 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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