Cubist Systematic Strategies LLC Has $218,000 Holdings in TerraForm Power Inc (TERP)

Cubist Systematic Strategies LLC raised its stake in TerraForm Power Inc (NASDAQ:TERP) by 58.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,639 shares of the solar energy provider’s stock after purchasing an additional 6,840 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in TerraForm Power were worth $218,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Voya Investment Management LLC boosted its stake in shares of TerraForm Power by 53.6% in the second quarter. Voya Investment Management LLC now owns 23,532 shares of the solar energy provider’s stock valued at $275,000 after buying an additional 8,215 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of TerraForm Power in the second quarter valued at approximately $587,000. Baird Financial Group Inc. boosted its stake in shares of TerraForm Power by 25.1% in the second quarter. Baird Financial Group Inc. now owns 237,041 shares of the solar energy provider’s stock valued at $2,773,000 after buying an additional 47,526 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of TerraForm Power by 129.3% in the second quarter. Renaissance Technologies LLC now owns 505,680 shares of the solar energy provider’s stock valued at $5,916,000 after buying an additional 285,100 shares in the last quarter. Finally, United Services Automobile Association purchased a new stake in shares of TerraForm Power in the second quarter valued at approximately $119,000. Hedge funds and other institutional investors own 60.42% of the company’s stock.

TERP opened at $11.13 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 1.91. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -9.20 and a beta of 0.94. TerraForm Power Inc has a one year low of $9.90 and a one year high of $14.20.

TerraForm Power (NASDAQ:TERP) last posted its earnings results on Monday, August 13th. The solar energy provider reported ($0.13) EPS for the quarter, hitting the Zacks’ 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 return on equity of 0.29% and a negative net margin of 13.02%. TerraForm Power’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities analysts anticipate that TerraForm Power Inc will post 0.41 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, September 15th. Shareholders of record on Saturday, September 1st were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 6.83%. TerraForm Power’s payout ratio is -62.81%.

A number of research firms recently weighed in on TERP. BidaskClub upgraded TerraForm Power from a “strong sell” rating to a “sell” rating in a research note on Friday, August 17th. Oppenheimer upgraded TerraForm Power from a “market perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a research note on Wednesday, August 15th. UBS Group upgraded TerraForm Power from a “market perform” rating to an “outperform” rating in a research note on Wednesday, August 15th. ValuEngine upgraded TerraForm Power from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Finally, Goldman Sachs Group upgraded TerraForm Power from a “sell” rating to a “neutral” rating and set a $11.00 price target on the stock in a research note on Wednesday, September 12th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.95.

TerraForm Power 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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Institutional Ownership by Quarter for TerraForm Power (NASDAQ:TERP)

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