Timber Hill LLC Invests $146,000 in TerraForm Power, Inc. (TERP)
Timber Hill LLC acquired a new stake in shares of TerraForm Power, Inc. (NASDAQ:TERP) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 11,038 shares of the solar energy provider’s stock, valued at approximately $146,000.
Several other institutional investors also recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in shares of TerraForm Power by 35.6% during the 3rd quarter. Baillie Gifford & Co. now owns 2,393,500 shares of the solar energy provider’s stock valued at $31,642,000 after buying an additional 628,688 shares in the last quarter. Verition Fund Management LLC purchased a new stake in shares of TerraForm Power during the 2nd quarter valued at $173,000. Aquamarine Capital Management LLC purchased a new stake in shares of TerraForm Power during the 2nd quarter valued at $2,513,000. State Street Corp raised its position in shares of TerraForm Power by 4.1% during the 2nd quarter. State Street Corp now owns 1,602,705 shares of the solar energy provider’s stock valued at $19,233,000 after buying an additional 63,271 shares in the last quarter. Finally, AHL Partners LLP purchased a new stake in shares of TerraForm Power during the 2nd quarter valued at $411,000. Hedge funds and other institutional investors own 54.49% of the company’s stock.
Shares of TerraForm Power, Inc. (NASDAQ TERP) traded down $0.07 during trading hours on Friday, reaching $12.64. 176,477 shares of the company were exchanged, compared to its average volume of 525,636. TerraForm Power, Inc. has a one year low of $10.99 and a one year high of $14.50. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.84 and a current ratio of 0.84.
TerraForm Power (NASDAQ:TERP) last issued its earnings results on Thursday, November 9th. The solar energy provider reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). TerraForm Power had a negative return on equity of 5.87% and a negative net margin of 21.83%. The business had revenue of $153.43 million during the quarter, compared to analysts’ expectations of $152.18 million. equities analysts forecast that TerraForm Power, Inc. will post -1.02 earnings per share for the current fiscal year.
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In other news, major shareholder Brookfield Asset Management In sold 625,000 shares of TerraForm Power stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $12.95, for a total transaction of $8,093,750.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 34.55% of the company’s stock.
Several research firms have recently weighed in on TERP. Zacks Investment Research upgraded shares of TerraForm Power from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Friday, July 28th. TheStreet upgraded shares of TerraForm Power from a “d” rating to a “c-” rating in a research report on Monday, October 2nd. BidaskClub upgraded shares of TerraForm Power from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. J P Morgan Chase & Co restated a “neutral” rating and set a $13.00 price objective on shares of TerraForm Power in a research report on Thursday, October 19th. Finally, Bank of America Corporation initiated coverage on shares of TerraForm Power in a research report on Tuesday, October 24th. They set an “underperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. TerraForm Power has an average rating of “Hold” and a consensus target price of $13.70.
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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