TerraForm Power (TERP) Rating Lowered to Sell at ValuEngine

TerraForm Power (NASDAQ:TERP) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

TERP has been the topic of a number of other research reports. JPMorgan Chase & Co. raised shares of TerraForm Power from a “neutral” rating to an “overweight” rating and set a $13.00 price target on the stock in a report on Thursday, May 3rd. BidaskClub raised shares of TerraForm Power from a “sell” rating to a “hold” rating in a report on Tuesday, April 24th. Oppenheimer raised shares of TerraForm Power from a “market perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Wednesday. BMO Capital Markets began coverage on shares of TerraForm Power in a report on Wednesday, July 25th. They set a “market perform” rating and a $11.50 price target on the stock. Finally, UBS Group raised shares of TerraForm Power from a “market perform” rating to an “outperform” rating in a report on Wednesday. Four investment analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $13.44.

Shares of TERP stock opened at $11.25 on Friday. TerraForm Power has a one year low of $9.90 and a one year high of $14.20. The stock has a market cap of $1.58 billion, a P/E ratio of -9.30 and a beta of 0.90. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 1.41.

TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings data on Monday, August 13th. The solar energy provider reported ($0.13) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). The company had revenue of $179.89 million for the quarter, compared to the consensus estimate of $162.69 million. TerraForm Power had a negative net margin of 8.33% and a negative return on equity of 0.11%. TerraForm Power’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 EPS. analysts forecast that TerraForm Power will post 0.2 EPS for the current year.

In related news, major shareholder Brookfield Asset Management In purchased 60,975,609 shares of the company’s stock in a transaction dated Monday, June 11th. The shares were purchased at an average price of $10.66 per share, with a total value of $649,999,991.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.01% of the company’s stock.

Large investors have recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of TerraForm Power by 1.3% in the 1st quarter. Northern Trust Corp now owns 471,681 shares of the solar energy provider’s stock worth $5,060,000 after purchasing an additional 5,930 shares during the period. Kayne Anderson Capital Advisors LP lifted its stake in shares of TerraForm Power by 31.0% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 33,800 shares of the solar energy provider’s stock worth $362,000 after purchasing an additional 8,000 shares during the period. BlackRock Inc. lifted its stake in shares of TerraForm Power by 3.0% in the 1st quarter. BlackRock Inc. now owns 5,618,971 shares of the solar energy provider’s stock worth $60,292,000 after purchasing an additional 161,226 shares during the period. Deutsche Bank AG lifted its stake in shares of TerraForm Power by 220.4% in the 4th quarter. Deutsche Bank AG now owns 259,162 shares of the solar energy provider’s stock worth $3,099,000 after purchasing an additional 178,269 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of TerraForm Power by 11,470.6% in the 1st quarter. Royal Bank of Canada now owns 904,013 shares of the solar energy provider’s stock worth $9,699,000 after purchasing an additional 896,200 shares during the period. Hedge funds and other institutional investors own 48.06% of the company’s stock.

About TerraForm Power

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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