Baird Financial Group Inc. boosted its position in TerraForm Power Inc (NASDAQ:TERP) by 23.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,467 shares of the solar energy provider’s stock after buying an additional 56,426 shares during the quarter. Baird Financial Group Inc. owned approximately 0.14% of TerraForm Power worth $3,398,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in shares of TerraForm Power by 11.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,479,658 shares of the solar energy provider’s stock worth $17,090,000 after buying an additional 157,434 shares during the period. BlackRock Inc. grew its position in shares of TerraForm Power by 34.2% during the 3rd quarter. BlackRock Inc. now owns 8,124,943 shares of the solar energy provider’s stock worth $93,844,000 after buying an additional 2,068,955 shares during the period. Bank of New York Mellon Corp grew its position in shares of TerraForm Power by 15.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 318,765 shares of the solar energy provider’s stock worth $3,681,000 after buying an additional 43,112 shares during the period. Montag A & Associates Inc. acquired a new stake in shares of TerraForm Power during the 3rd quarter worth approximately $897,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of TerraForm Power during the 3rd quarter worth approximately $171,000. Institutional investors and hedge funds own 91.74% of the company’s stock.
Several equities research analysts have recently commented on TERP shares. Zacks Investment Research cut shares of TerraForm Power from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. ValuEngine cut shares of TerraForm Power from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. BidaskClub upgraded shares of TerraForm Power from a “hold” rating to a “buy” rating in a research report on Thursday, November 22nd. MED started coverage on shares of TerraForm Power in a research report on Friday, September 28th. They set a “hold” rating and a $12.00 price target for the company. They noted that the move was a valuation call. Finally, Deutsche Bank reiterated a “hold” rating and set a $12.00 price target on shares of TerraForm Power in a research report on Friday, September 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $12.44.
Shares of NASDAQ TERP opened at $11.42 on Friday. The company has a market cap of $2.42 billion, a P/E ratio of -9.44 and a beta of 0.87. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.96. TerraForm Power Inc has a 52-week low of $9.90 and a 52-week high of $12.18.
TerraForm Power (NASDAQ:TERP) last issued its quarterly earnings data on Thursday, November 8th. The solar energy provider reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.11). The firm had revenue of $246.06 million for the quarter, compared to analyst estimates of $233.26 million. TerraForm Power had a negative net margin of 12.29% and a negative return on equity of 0.48%. The firm’s revenue for the quarter was up 60.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) EPS. As a group, equities research analysts predict that TerraForm Power Inc will post 0.2 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Friday, November 30th. TerraForm Power’s dividend payout ratio is currently -62.81%.
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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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