Research Analysts’ Weekly Ratings Updates for TerraForm Power (TERP)

Several analysts have recently updated their ratings and price targets for TerraForm Power (NASDAQ: TERP):

  • 5/11/2018 – TerraForm Power was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 5/8/2018 – TerraForm Power was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $13.00 price target on the stock. According to Zacks, “TerraForm Power, Inc. is global renewable energy company. It operates clean power generation assets such as solar, wind, natural gas, geothermal and hydro-electricity. The Company owns and operates solar generation assets serving utility, commercial, and residential customers. TerraForm Power, Inc. is based in Beltsville, Maryland. “
  • 5/3/2018 – TerraForm Power was upgraded by analysts at JPMorgan Chase from a “neutral” rating to an “overweight” rating. They now have a $13.00 price target on the stock.
  • 5/3/2018 – TerraForm Power was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 4/24/2018 – TerraForm Power was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 4/4/2018 – TerraForm Power is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating and a $13.00 price target on the stock.
  • 3/24/2018 – TerraForm Power was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 3/15/2018 – TerraForm Power was downgraded by analysts at Goldman Sachs from a “neutral” rating to a “sell” rating.

Shares of TerraForm Power stock opened at $11.21 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.35. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of -9.26 and a beta of 1.02.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be issued a $0.19 dividend. 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 payout ratio is -62.81%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strategic Value Partners LLC purchased a new position in TerraForm Power in the fourth quarter valued at $166,302,000. BlackRock Inc. increased its holdings in TerraForm Power by 3.0% in the first quarter. BlackRock Inc. now owns 5,618,971 shares of the solar energy provider’s stock valued at $60,292,000 after buying an additional 161,226 shares in the last quarter. Ecofin Ltd. increased its holdings in TerraForm Power by 112.5% in the fourth quarter. Ecofin Ltd. now owns 2,934,375 shares of the solar energy provider’s stock valued at $35,095,000 after buying an additional 1,553,675 shares in the last quarter. Cyrus Capital Partners L.P. purchased a new position in TerraForm Power in the fourth quarter valued at $34,883,000. Finally, Millennium Management LLC purchased a new position in TerraForm Power in the fourth quarter valued at $7,574,000. 41.65% of the stock is owned by institutional investors.

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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