TerraForm Power, Inc. (TERP) Given Average Recommendation of “Hold” by Brokerages

Shares of TerraForm Power, Inc. (NASDAQ:TERP) have been assigned an average recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $12.63.

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A number of analysts have commented on TERP shares. Zacks Investment Research downgraded shares of TerraForm Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 2nd. BidaskClub upgraded shares of TerraForm Power from a “sell” rating to a “hold” rating in a report on Friday, June 23rd.

Hedge funds have recently made changes to their positions in the company. Eventide Asset Management LLC purchased a new stake in shares of TerraForm Power during the first quarter worth about $136,000. Nomura Holdings Inc. boosted its position in TerraForm Power by 1.1% in the first quarter. Nomura Holdings Inc. now owns 9,036,740 shares of the solar energy provider’s stock worth $111,439,000 after buying an additional 100,000 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in TerraForm Power by 5.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 325,392 shares of the solar energy provider’s stock worth $4,026,000 after buying an additional 16,515 shares during the last quarter. Morgan Stanley boosted its position in TerraForm Power by 3.4% in the first quarter. Morgan Stanley now owns 3,124,921 shares of the solar energy provider’s stock worth $38,656,000 after buying an additional 103,906 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in TerraForm Power by 10.4% in the first quarter. Geode Capital Management LLC now owns 650,708 shares of the solar energy provider’s stock worth $8,049,000 after buying an additional 61,491 shares during the last quarter. Institutional investors and hedge funds own 80.42% of the company’s stock.

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Shares of TerraForm Power (NASDAQ:TERP) traded up 0.16% during midday trading on Friday, hitting $12.27. The stock had a trading volume of 103,659 shares. The firm has a 50 day moving average price of $12.02 and a 200-day moving average price of $12.15. The stock’s market cap is $1.53 billion. TerraForm Power has a 52-week low of $10.99 and a 52-week high of $14.69.

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.