Renaissance Technologies LLC raised its position in TerraForm Power Inc (NASDAQ:TERP) by 129.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 505,680 shares of the solar energy provider’s stock after acquiring an additional 285,100 shares during the period. Renaissance Technologies LLC owned approximately 0.34% of TerraForm Power worth $5,916,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in TERP. Amalgamated Bank acquired a new stake in shares of TerraForm Power in the 2nd quarter worth $119,000. United Services Automobile Association acquired a new stake in shares of TerraForm Power in the 2nd quarter worth $119,000. Cubist Systematic Strategies LLC lifted its stake in shares of TerraForm Power by 314.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 11,799 shares of the solar energy provider’s stock worth $127,000 after acquiring an additional 8,952 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of TerraForm Power in the 2nd quarter worth $158,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of TerraForm Power in the 2nd quarter worth $212,000. Institutional investors own 60.42% of the company’s stock.
Shares of NASDAQ TERP opened at $10.98 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.91. TerraForm Power Inc has a 52 week low of $9.90 and a 52 week high of $14.20. The stock has a market capitalization of $2.41 billion, a P/E ratio of -9.00 and a beta of 0.94.
TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings data on Monday, August 13th. The solar energy provider reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). TerraForm Power had a negative net margin of 13.02% and a negative return on equity of 0.29%. The firm had revenue of $179.89 million during the quarter, compared to analysts’ expectations of $162.69 million. During the same quarter last year, the business earned $0.08 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts anticipate that TerraForm Power Inc will post 0.41 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 15th. Investors of record on Saturday, September 1st were paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.92%. The ex-dividend date was Thursday, August 30th. TerraForm Power’s dividend payout ratio (DPR) is -62.81%.
Several analysts have recently commented on TERP shares. ValuEngine cut shares of TerraForm Power from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. BidaskClub cut shares of TerraForm Power from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 25th. MED started coverage on shares of TerraForm Power in a research note on Friday, September 28th. They issued a “hold” rating and a $12.00 target price for the company. They noted that the move was a valuation call. UBS Group upgraded shares of TerraForm Power from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 15th. Finally, BMO Capital Markets started coverage on shares of TerraForm Power in a research note on Wednesday, July 25th. They issued a “market perform” rating and a $11.50 target price for the company. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $12.95.
TerraForm Power Company Profile
TerraForm Power, Inc, together with its subsidiaries, owns and operates clean power generation assets. As of December 31, 2017, its portfolio consisted of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with a combined nameplate capacity of 2,606.4 megawatts.
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