TerraForm Power, Inc. (TERP) Shares Sold by State Street Corp
State Street Corp cut its stake in TerraForm Power, Inc. (NASDAQ:TERP) by 1.2% during the first quarter, Holdings Channel reports. The fund owned 1,539,434 shares of the solar energy provider’s stock after selling 18,809 shares during the period. State Street Corp’s holdings in TerraForm Power were worth $19,043,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of TerraForm Power by 7.4% in the fourth quarter. Teachers Advisors LLC now owns 151,572 shares of the solar energy provider’s stock valued at $1,942,000 after buying an additional 10,476 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of TerraForm Power during the first quarter valued at approximately $400,000. Rubric Capital Management LP bought a new stake in shares of TerraForm Power during the first quarter valued at approximately $5,009,000. Northeast Financial Consultants Inc bought a new stake in shares of TerraForm Power during the first quarter valued at approximately $123,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of TerraForm Power by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 411,403 shares of the solar energy provider’s stock valued at $5,088,000 after buying an additional 23,051 shares during the last quarter. Institutional investors and hedge funds own 81.43% of the company’s stock.
Shares of TerraForm Power, Inc. (NASDAQ:TERP) traded up 1.32% during mid-day trading on Tuesday, hitting $13.08. 77,100 shares of the stock traded hands. TerraForm Power, Inc. has a 12 month low of $10.99 and a 12 month high of $14.69. The firm has a 50 day moving average of $12.47 and a 200 day moving average of $12.20. The company’s market cap is $1.63 billion.
TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.63. The business had revenue of $135.22 million for the quarter. TerraForm Power had a negative return on equity of 4.59% and a negative net margin of 19.84%. Equities analysts anticipate that TerraForm Power, Inc. will post ($1.02) EPS for the current fiscal year.
Several analysts have commented on TERP shares. Zacks Investment Research cut shares of TerraForm Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 2nd. BidaskClub upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. TerraForm Power has an average rating of “Hold” and a consensus price target of $12.90.
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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