Investment analysts at Royal Bank of Canada assumed coverage on shares of TerraForm Power, Inc. New (NASDAQ:TERP) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $13.00 price target on the solar energy provider’s stock. Royal Bank of Canada’s target price suggests a potential upside of 15.25% from the stock’s previous close.
Other analysts have also recently issued reports about the company. BidaskClub upgraded TerraForm Power, Inc. New from a “strong sell” rating to a “sell” rating in a research note on Saturday, March 24th. Goldman Sachs cut TerraForm Power, Inc. New from a “neutral” rating to a “sell” rating in a research note on Thursday, March 15th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $13.83.
TerraForm Power, Inc. New stock opened at $11.28 on Wednesday. TerraForm Power, Inc. New has a 1-year low of $10.02 and a 1-year high of $14.20. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 1.35.
In other news, CEO John Stinebaugh acquired 8,100 shares of the company’s stock in a transaction on Friday, November 30th. The shares were bought at an average price of $12.42 per share, with a total value of $100,602.00. Following the completion of the acquisition, the chief executive officer now owns 8,100 shares in the company, valued at approximately $100,602. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 34.55% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. American International Group Inc. grew its holdings in shares of TerraForm Power, Inc. New by 8.1% during the third quarter. American International Group Inc. now owns 54,077 shares of the solar energy provider’s stock worth $715,000 after purchasing an additional 4,043 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of TerraForm Power, Inc. New by 9.1% during the third quarter. Wells Fargo & Company MN now owns 68,376 shares of the solar energy provider’s stock worth $903,000 after purchasing an additional 5,691 shares during the last quarter. KBC Group NV grew its holdings in shares of TerraForm Power, Inc. New by 63.3% during the third quarter. KBC Group NV now owns 26,892 shares of the solar energy provider’s stock worth $356,000 after purchasing an additional 10,424 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in shares of TerraForm Power, Inc. New during the fourth quarter worth about $151,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of TerraForm Power, Inc. New during the fourth quarter worth about $174,000. 41.70% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was posted by Ticker Report and is the sole property of of Ticker Report. If you are viewing this report on another site, it was illegally stolen and republished in violation of U.S. & international copyright laws. The original version of this report can be read at https://www.tickerreport.com/banking-finance/3335120/royal-bank-of-canada-initiates-coverage-on-terraform-power-inc-new-terp.html.
About TerraForm Power, Inc. New
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.
Receive News & Ratings for TerraForm Power Inc. New Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TerraForm Power Inc. New and related companies with MarketBeat.com's FREE daily email newsletter.