TerraForm Power, Inc. (TERP) Rating Increased to Buy at BidaskClub

TerraForm Power, Inc. (NASDAQ:TERP) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, July 31st.

Separately, Zacks Investment Research upgraded TerraForm Power from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.90.

Shares of TerraForm Power (TERP) traded down 0.86% during midday trading on Monday, reaching $12.61. 175,746 shares of the company’s stock were exchanged. The company’s market cap is $1.57 billion. TerraForm Power has a 12 month low of $10.99 and a 12 month high of $14.69. The firm has a 50 day moving average price of $12.45 and a 200 day moving average price of $12.19.

TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.63. TerraForm Power had a negative net margin of 19.84% and a negative return on equity of 4.59%. The business had revenue of $135.22 million for the quarter. Equities research analysts forecast that TerraForm Power will post ($1.02) earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC raised its position in TerraForm Power by 13.0% in the second quarter. Parametric Portfolio Associates LLC now owns 103,660 shares of the solar energy provider’s stock valued at $1,244,000 after buying an additional 11,938 shares during the last quarter. Vanguard Group Inc. raised its position in TerraForm Power by 1.8% in the second quarter. Vanguard Group Inc. now owns 7,330,136 shares of the solar energy provider’s stock valued at $87,961,000 after buying an additional 132,454 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in TerraForm Power by 1.2% in the second quarter. UBS Asset Management Americas Inc. now owns 27,138 shares of the solar energy provider’s stock valued at $326,000 after buying an additional 323 shares during the last quarter. Baillie Gifford & Co. raised its position in TerraForm Power by 7.3% in the second quarter. Baillie Gifford & Co. now owns 1,764,812 shares of the solar energy provider’s stock valued at $21,178,000 after buying an additional 120,329 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in TerraForm Power by 1.8% in the second quarter. Alliancebernstein L.P. now owns 110,700 shares of the solar energy provider’s stock valued at $1,328,000 after buying an additional 2,000 shares during the last quarter. 81.88% of the stock is owned by hedge funds and other institutional investors.

TerraForm Power 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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