TerraForm Power, Inc. (TERP) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of TerraForm Power, Inc. (NASDAQ:TERP) from a hold rating to a buy rating in a report released on Friday morning. Zacks Investment Research currently has $14.00 target price on the solar energy provider’s stock.
According to Zacks, “TerraForm Power, Inc. is global renewable energy company. It operates clean power generation assets such as solar, wind, natural gas, geothermal and hydro-electricity. The Company owns and operates solar generation assets serving utility, commercial, and residential customers. TerraForm Power, Inc. is based in Beltsville, Maryland. “
Separately, BidaskClub raised shares of TerraForm Power from a sell rating to a hold rating in a research report on Friday, June 23rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. TerraForm Power has a consensus rating of Hold and a consensus target price of $12.90.
TerraForm Power (TERP) opened at 13.40 on Friday. The firm’s market capitalization is $1.67 billion. TerraForm Power has a one year low of $10.99 and a one year high of $14.69. The stock’s 50 day moving average is $12.20 and its 200-day moving average is $12.14.
TerraForm Power (NASDAQ:TERP) last released its earnings results on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.63. The business had revenue of $135.22 million during the quarter. TerraForm Power had a negative return on equity of 4.59% and a negative net margin of 19.84%. On average, analysts anticipate that TerraForm Power will post ($0.30) EPS for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. Morgan Stanley boosted its position in shares of TerraForm Power by 3.4% in the first quarter. Morgan Stanley now owns 3,124,921 shares of the solar energy provider’s stock valued at $38,656,000 after buying an additional 103,906 shares during the period. American International Group Inc. boosted its position in shares of TerraForm Power by 7.1% in the first quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock valued at $666,000 after buying an additional 3,559 shares during the period. Teachers Advisors LLC boosted its position 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 period. State Street Corp boosted its position in shares of TerraForm Power by 4.8% in the fourth quarter. State Street Corp now owns 1,558,243 shares of the solar energy provider’s stock valued at $19,959,000 after buying an additional 71,204 shares during the period. Finally, Global X Management Co. LLC boosted its position in shares of TerraForm Power by 18.3% in the first quarter. Global X Management Co. LLC now owns 28,988 shares of the solar energy provider’s stock valued at $359,000 after buying an additional 4,484 shares during the period. Institutional investors and hedge funds own 81.85% of the company’s stock.
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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