TerraForm Power, Inc. (NASDAQ:TERP) major shareholder Brookfield Asset Management In sold 625,000 shares of the company’s stock in a transaction dated Monday, October 9th. The stock was 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 Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of TerraForm Power, Inc. (NASDAQ:TERP) opened at 12.60 on Friday. TerraForm Power, Inc. has a 1-year low of $10.99 and a 1-year high of $14.50. The stock’s 50 day moving average is $13.39 and its 200-day moving average is $12.65. The stock’s market cap is $1.57 billion.
TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.63). TerraForm Power had a negative net margin of 20.92% and a negative return on equity of 5.75%. The company had revenue of $135.22 million during the quarter. On average, analysts predict that TerraForm Power, Inc. will post ($0.73) EPS for the current fiscal year.
TERP has been the subject of a number of analyst reports. BidaskClub upgraded shares of TerraForm Power from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of TerraForm Power from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company 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. Finally, Robert W. Baird reiterated a “hold” rating and issued a $13.00 price objective on shares of TerraForm Power in a research report on Sunday, September 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $12.88.
A number of institutional investors and hedge funds have recently made changes to their positions in TERP. BNP Paribas Arbitrage SA raised its position in TerraForm Power by 450.5% during the second quarter. BNP Paribas Arbitrage SA now owns 10,779 shares of the solar energy provider’s stock worth $129,000 after acquiring an additional 8,821 shares during the last quarter. SG Americas Securities LLC raised its position in TerraForm Power by 0.6% during the first quarter. SG Americas Securities LLC now owns 10,808 shares of the solar energy provider’s stock worth $134,000 after acquiring an additional 69 shares during the last quarter. Eventide Asset Management LLC acquired a new position in TerraForm Power during the first quarter worth about $136,000. Verition Fund Management LLC acquired a new position in TerraForm Power during the second quarter worth about $173,000. Finally, LMR Partners LLP acquired a new position in TerraForm Power during the second quarter worth about $233,000. Institutional investors own 80.76% of the company’s stock.
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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