Royal Bank of Canada began coverage on shares of TerraForm Power, Inc. New (NASDAQ:TERP) in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $13.00 target price on the solar energy provider’s stock.
TERP has been the topic of a number of other research reports. Goldman Sachs cut TerraForm Power, Inc. New from a neutral rating to a sell rating in a report on Thursday, March 15th. BidaskClub raised TerraForm Power, Inc. New from a strong sell rating to a sell rating in a report on Saturday, March 24th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. TerraForm Power, Inc. New currently has a consensus rating of Hold and a consensus price target of $13.83.
Shares of NASDAQ TERP opened at $11.22 on Wednesday. TerraForm Power, Inc. New has a one year low of $10.02 and a one year high of $14.20. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $1,670.41, a PE ratio of -9.27 and a beta of 1.02.
TerraForm Power, Inc. New (NASDAQ:TERP) last issued its quarterly earnings results on Thursday, March 8th. The solar energy provider reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.34. The firm had revenue of $135.54 million for the quarter, compared to analysts’ expectations of $122.56 million. TerraForm Power, Inc. New had a negative return on equity of 4.54% and a negative net margin of 26.85%. research analysts expect that TerraForm Power, Inc. New will post -0.59 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Wednesday, February 28th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $0.76 dividend on an annualized basis and a yield of 6.77%. TerraForm Power, Inc. New’s dividend payout ratio (DPR) is -62.81%.
In related news, CEO John Stinebaugh acquired 8,100 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The shares were acquired at an average price of $12.42 per share, with a total value of $100,602.00. Following the acquisition, the chief executive officer now owns 8,100 shares of the company’s stock, valued at approximately $100,602. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 34.55% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV increased its stake in TerraForm Power, Inc. New by 63.3% in the 3rd quarter. KBC Group NV now owns 26,892 shares of the solar energy provider’s stock worth $356,000 after acquiring an additional 10,424 shares during the last quarter. Ecofin Ltd. increased its stake in TerraForm Power, Inc. New by 112.5% in the 4th quarter. Ecofin Ltd. now owns 2,934,375 shares of the solar energy provider’s stock worth $35,095,000 after acquiring an additional 1,553,675 shares during the last quarter. Bank of Montreal Can increased its stake in TerraForm Power, Inc. New by 228.0% in the 4th quarter. Bank of Montreal Can now owns 27,314 shares of the solar energy provider’s stock worth $326,000 after acquiring an additional 18,986 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in TerraForm Power, Inc. New by 9.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 359,708 shares of the solar energy provider’s stock worth $4,756,000 after acquiring an additional 32,337 shares during the last quarter. Finally, First Manhattan Co. bought a new position in TerraForm Power, Inc. New in the 4th quarter worth about $1,356,000. Institutional investors and hedge funds own 41.70% of the company’s stock.
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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.
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