Northern Trust Corp lowered its stake in TerraForm Power, Inc. (NASDAQ:TERP) by 3.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 940,276 shares of the solar energy provider’s stock after selling 31,050 shares during the quarter. Northern Trust Corp owned 0.75% of TerraForm Power worth $11,283,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Woods Capital Investors LLC boosted its position in shares of TerraForm Power by 10.4% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 1,195,600 shares of the solar energy provider’s stock valued at $14,347,000 after acquiring an additional 112,600 shares during the last quarter. Baillie Gifford & Co. raised its holdings in TerraForm Power by 7.3% in the 2nd quarter. Baillie Gifford & Co. now owns 1,764,812 shares of the solar energy provider’s stock valued at $21,178,000 after buying an additional 120,329 shares during the period. Russell Investments Group Ltd. purchased a new stake in TerraForm Power in the 1st quarter valued at about $400,000. Bank of New York Mellon Corp raised its holdings in TerraForm Power by 5.9% in the 1st quarter. Bank of New York Mellon Corp now owns 411,403 shares of the solar energy provider’s stock valued at $5,088,000 after buying an additional 23,051 shares during the period. Finally, Geode Capital Management LLC increased its stake in TerraForm Power by 10.4% during the first quarter. Geode Capital Management LLC now owns 650,708 shares of the solar energy provider’s stock worth $8,049,000 after purchasing an additional 61,491 shares during the period. 54.49% of the stock is currently owned by institutional investors.
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A number of analysts have issued reports on the stock. Robert W. Baird upgraded shares of TerraForm Power from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $13.00 to $19.00 in a research note on Monday, October 23rd. Zacks Investment Research upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Bank of America Corporation initiated coverage on TerraForm Power in a report on Tuesday, October 24th. They issued an “underperform” rating and a $11.00 price target for the company. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $13.00 price target on shares of TerraForm Power in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.70.
In related news, major shareholder Brookfield Asset Management In sold 625,000 shares of the stock in a transaction on Monday, October 9th. The stock was sold at an average price of $12.95, for a total transaction of $8,093,750.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 34.55% of the stock is owned by company insiders.
TerraForm Power, Inc. (NASDAQ:TERP) opened at $12.32 on Tuesday. TerraForm Power, Inc. has a 52-week low of $10.99 and a 52-week high of $14.50. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.08.
TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings results on Thursday, November 9th. The solar energy provider reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). The firm had revenue of $153.43 million during the quarter, compared to analysts’ expectations of $152.18 million. TerraForm Power had a negative net margin of 21.83% and a negative return on equity of 5.87%. analysts predict that TerraForm Power, Inc. will post -1.32 EPS for the current fiscal year.
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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