BidaskClub Lowers TerraForm Power (TERP) to Sell

BidaskClub lowered shares of TerraForm Power (NASDAQ:TERP) from a hold rating to a sell rating in a report issued on Friday morning.

A number of other brokerages have also recently commented on TERP. Goldman Sachs cut TerraForm Power from a neutral rating to a sell rating in a report on Thursday, March 15th. Zacks Investment Research raised TerraForm Power from a hold rating to a strong-buy rating and set a $13.00 target price on the stock in a report on Tuesday, May 8th. ValuEngine raised TerraForm Power from a sell rating to a hold rating in a report on Thursday, May 3rd. JPMorgan Chase raised TerraForm Power from a neutral rating to an overweight rating and set a $13.00 target price on the stock in a report on Thursday, May 3rd. Finally, Royal Bank of Canada began coverage on TerraForm Power in a report on Wednesday, April 4th. They issued an outperform rating and a $13.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $13.67.

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Shares of TerraForm Power stock opened at $11.21 on Friday. TerraForm Power has a one year low of $10.02 and a one year high of $14.20. The firm has a market capitalization of $1.64 billion, a P/E ratio of -9.26 and a beta of 1.02. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.35.

TerraForm Power (NASDAQ:TERP) last announced its earnings results on Tuesday, May 1st. The solar energy provider reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.75. TerraForm Power had a negative return on equity of 0.11% and a negative net margin of 8.33%. The company had revenue of $127.55 million for the quarter, compared to analysts’ expectations of $145.30 million. analysts forecast that TerraForm Power will post 0.2 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, May 31st. This represents a $0.76 dividend on an annualized basis and a yield of 6.78%. TerraForm Power’s dividend payout ratio is presently -62.81%.

A number of large investors have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in TerraForm Power by 11.5% during the first quarter. Rhumbline Advisers now owns 46,480 shares of the solar energy provider’s stock valued at $499,000 after acquiring an additional 4,790 shares during the period. Wells Fargo & Company MN raised its holdings in TerraForm Power by 9.1% during the third quarter. Wells Fargo & Company MN now owns 68,376 shares of the solar energy provider’s stock valued at $903,000 after acquiring an additional 5,691 shares during the period. Northern Trust Corp raised its holdings in TerraForm Power by 1.3% during the first quarter. Northern Trust Corp now owns 471,681 shares of the solar energy provider’s stock valued at $5,060,000 after acquiring an additional 5,930 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in TerraForm Power by 2.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 234,729 shares of the solar energy provider’s stock valued at $2,519,000 after acquiring an additional 6,507 shares during the period. Finally, Kayne Anderson Capital Advisors LP raised its holdings in TerraForm Power by 31.0% during the first quarter. Kayne Anderson Capital Advisors LP now owns 33,800 shares of the solar energy provider’s stock valued at $362,000 after acquiring an additional 8,000 shares during the period. 41.65% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for TerraForm Power (NASDAQ:TERP)

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