Baillie Gifford & Co. grew its stake in TerraForm Power, Inc. (NASDAQ:TERP) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,764,812 shares of the solar energy provider’s stock after buying an additional 120,329 shares during the period. Baillie Gifford & Co. owned 1.42% of TerraForm Power worth $21,178,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of TERP. CarVal Investors LLC acquired a new stake in shares of TerraForm Power in the first quarter valued at about $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 during the period. 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 during the period. 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 during the period. Finally, Nomura Holdings Inc. increased its stake in shares of 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 valued at $111,439,000 after buying an additional 100,000 shares during the period. 80.79% of the stock is owned by institutional investors.
TerraForm Power, Inc. (NASDAQ:TERP) traded down 0.110% during mid-day trading on Monday, reaching $13.625. The company’s stock had a trading volume of 50,881 shares. TerraForm Power, Inc. has a 12-month low of $10.99 and a 12-month high of $14.69. The company has a 50-day moving average price of $13.24 and a 200-day moving average price of $12.44. The firm’s market cap is $1.70 billion.
TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings data on Friday, July 21st. The solar energy provider reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.31) by $0.63. The company had revenue of $135.22 million during the quarter. TerraForm Power had a negative return on equity of 5.81% and a negative net margin of 24.72%. On average, equities research analysts expect that TerraForm Power, Inc. will post ($0.73) earnings per share for the current year.
Several brokerages have recently weighed in on TERP. Robert W. Baird reissued a “hold” rating and issued a $13.00 price target on shares of TerraForm Power in a research note on Sunday, September 3rd. Zacks Investment Research raised TerraForm Power from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, BidaskClub raised TerraForm Power from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $12.90.
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TerraForm Power 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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