TerraForm Power, Inc. (TERP) Stake Boosted by Geode Capital Management LLC

Geode Capital Management LLC increased its position in TerraForm Power, Inc. (NASDAQ:TERP) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 650,708 shares of the solar energy provider’s stock after buying an additional 61,491 shares during the period. Geode Capital Management LLC’s holdings in TerraForm Power were worth $8,049,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of TERP. Vanguard Group Inc. increased its position in TerraForm Power by 13.0% in the first quarter. Vanguard Group Inc. now owns 7,197,682 shares of the solar energy provider’s stock worth $89,036,000 after buying an additional 826,219 shares in the last quarter. Global X Management Co. LLC increased its position in TerraForm Power by 18.3% in the first quarter. Global X Management Co. LLC now owns 28,988 shares of the solar energy provider’s stock worth $359,000 after buying an additional 4,484 shares in the last quarter. CarVal Investors LLC bought a new position in TerraForm Power during the first quarter worth $10,943,000. Legal & General Group Plc increased its position in TerraForm Power by 17.7% in the first quarter. Legal & General Group Plc now owns 33,047 shares of the solar energy provider’s stock worth $408,000 after buying an additional 4,979 shares in the last quarter. Finally, Teachers Advisors LLC increased its position in TerraForm Power by 2.7% in the first quarter. Teachers Advisors LLC now owns 155,648 shares of the solar energy provider’s stock worth $1,925,000 after buying an additional 4,076 shares in the last quarter. 81.85% of the stock is currently owned by institutional investors.

Shares of TerraForm Power, Inc. (TERP) traded up 0.15% during trading on Thursday, hitting $13.21. 19,515 shares of the stock were exchanged. The stock’s market cap is $1.65 billion. The stock’s 50 day moving average is $12.24 and its 200-day moving average is $12.15. TerraForm Power, Inc. has a 12-month low of $10.99 and a 12-month high of $14.69.

TerraForm Power (NASDAQ:TERP) last announced its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.63. TerraForm Power had a negative net margin of 19.84% and a negative return on equity of 4.59%. The company had revenue of $135.22 million for the quarter. Equities research analysts anticipate that TerraForm Power, Inc. will post ($1.11) EPS for the current year.

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A number of equities analysts have weighed in on the stock. BidaskClub raised shares of TerraForm Power from a “hold” rating to a “buy” rating in a research note on Monday. Zacks Investment Research raised shares of TerraForm Power from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $12.90.

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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