TerraForm Power (NASDAQ:TERP) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Friday.

A number of other brokerages have also commented on TERP. ValuEngine lowered shares of TerraForm Power from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. Goldman Sachs Group upgraded shares of TerraForm Power from a “sell” rating to a “neutral” rating and set a $11.00 price target for the company in a research note on Wednesday. Oppenheimer upgraded shares of TerraForm Power from a “market perform” rating to an “outperform” rating and set a $14.00 price target for the company in a research note on Wednesday, August 15th. 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 began coverage on shares of TerraForm Power in a research note on Wednesday, July 25th. They set a “market perform” rating and a $11.50 price target for the company. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. TerraForm Power has a consensus rating of “Hold” and a consensus target price of $13.19.

Shares of TERP stock opened at $11.83 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 has a 12 month low of $9.90 and a 12 month high of $14.20.

TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings results on Monday, August 13th. The solar energy provider reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The business had revenue of $179.89 million during the quarter, compared to analyst estimates of $162.69 million. TerraForm Power had a negative net margin of 13.02% and a negative return on equity of 0.29%. TerraForm Power’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. analysts forecast that TerraForm Power will post 0.41 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its holdings in TerraForm Power by 41.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 275,653 shares of the solar energy provider’s stock worth $3,225,000 after acquiring an additional 81,044 shares during the last quarter. Jane Street Group LLC purchased a new position in TerraForm Power during the 2nd quarter worth $121,000. California Public Employees Retirement System boosted its holdings in TerraForm Power by 8.3% during the 2nd quarter. California Public Employees Retirement System now owns 67,204 shares of the solar energy provider’s stock worth $786,000 after acquiring an additional 5,130 shares during the last quarter. Millennium Management LLC purchased a new position in TerraForm Power during the 2nd quarter worth $7,634,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in TerraForm Power during the 2nd quarter worth $690,000. 60.42% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for TerraForm Power (NASDAQ:TERP)

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