TerraForm Power, Inc. (NASDAQ:TERP) - Research analysts at Oppenheimer Holdings issued their Q2 2017 EPS estimates for TerraForm Power in a note issued to investors on Wednesday. Oppenheimer Holdings analyst C. Rusch forecasts that the solar energy provider will post earnings of ($0.03) per share for the quarter. Oppenheimer Holdings also issued estimates for TerraForm Power’s Q3 2017 earnings at ($0.02) EPS, Q4 2017 earnings at ($0.43) EPS and FY2017 earnings at ($0.79) EPS.
TerraForm Power (NASDAQ:TERP) last issued its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.31) by $0.63. The company had revenue of $135.22 million for the quarter. TerraForm Power had a negative net margin of 19.84% and a negative return on equity of 4.59%.
Other analysts have also issued reports about the company. BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised TerraForm Power from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $12.90.
TerraForm Power (NASDAQ TERP) opened at 13.09 on Friday. TerraForm Power has a one year low of $10.99 and a one year high of $14.69. The firm’s 50 day moving average price is $12.24 and its 200-day moving average price is $12.15. The company’s market capitalization is $1.63 billion.
Hedge funds have recently made changes to their positions in the company. CarVal Investors LLC acquired a new stake in shares of TerraForm Power during the first quarter valued at $10,943,000. Vanguard Group Inc. increased its stake in shares of 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 valued at $89,036,000 after buying an additional 826,219 shares in the last quarter. Rubric Capital Management LP acquired a new stake in shares of TerraForm Power during the first quarter valued at $5,009,000. Alpine Woods Capital Investors LLC increased its stake in shares of TerraForm Power by 10.4% in the second 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 buying an additional 112,600 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of TerraForm Power by 3.4% in the first quarter. Morgan Stanley now owns 3,124,921 shares of the solar energy provider’s stock valued at $38,656,000 after buying an additional 103,906 shares in the last quarter. Institutional investors and hedge funds own 81.85% of the company’s stock.
About TerraForm Power
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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