Zacks Investment Research Downgrades TerraForm Power, Inc. (TERP) to Sell
TerraForm Power, Inc. (NASDAQ:TERP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.
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. “
Several other analysts also recently commented on the stock. TheStreet raised shares of TerraForm Power from a “d” rating to a “c-” rating in a report on Monday. Robert W. Baird reaffirmed a “hold” rating and set a $13.00 target price on shares of TerraForm Power in a report on Sunday, September 3rd. Finally, BidaskClub raised shares of TerraForm Power from a “hold” rating to a “buy” rating in a report on Monday, July 31st. One 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 stock presently has an average rating of “Hold” and an average target price of $12.90.
Shares of TerraForm Power (TERP) opened at 12.61 on Friday. The company’s market cap is $1.57 billion. The company has a 50 day moving average of $13.43 and a 200 day moving average of $12.63. TerraForm Power has a 1-year low of $10.99 and a 1-year high of $14.50.
TerraForm Power (NASDAQ:TERP) last announced its earnings results on Friday, July 21st. The solar energy provider reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.63). The company had revenue of $135.22 million for the quarter. TerraForm Power had a negative return on equity of 5.71% and a negative net margin of 20.92%. Equities analysts expect that TerraForm Power will post ($0.73) earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of TERP. Vanguard Group Inc. boosted its holdings in TerraForm Power by 13.0% in the 1st quarter. Vanguard Group Inc. now owns 7,197,682 shares of the solar energy provider’s stock valued at $89,036,000 after purchasing an additional 826,219 shares during the period. Aquamarine Capital Management LLC bought a new stake in TerraForm Power in the 2nd quarter valued at about $2,513,000. Baillie Gifford & Co. boosted its holdings in TerraForm Power by 7.3% in the 2nd quarter. Baillie Gifford & Co. now owns 1,764,812 shares of the solar energy provider’s stock valued at $21,178,000 after purchasing an additional 120,329 shares during the period. Alpine Woods Capital Investors LLC boosted its holdings in TerraForm Power by 10.4% in the 2nd quarter. Alpine Woods Capital Investors LLC now owns 1,195,600 shares of the solar energy provider’s stock valued at $14,347,000 after purchasing an additional 112,600 shares during the period. Finally, Morgan Stanley boosted its holdings in TerraForm Power by 3.4% in the 1st quarter. Morgan Stanley now owns 3,124,921 shares of the solar energy provider’s stock valued at $38,656,000 after purchasing an additional 103,906 shares during the period. 80.76% 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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