An issue of TerraForm Power Inc (NASDAQ:TERP) bonds rose 1.3% against their face value during trading on Friday. The high-yield debt issue has a 5% coupon and will mature on January 31, 2028. The bonds in the issue are now trading at $91.28. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.
Several equities analysts have weighed in on the company. BidaskClub upgraded TerraForm Power from a “strong sell” rating to a “sell” rating in a report on Friday, September 14th. ValuEngine upgraded TerraForm Power from a “sell” rating to a “hold” rating in a report on Wednesday, November 7th. assumed coverage on TerraForm Power in a report on Friday, September 28th. They set a “hold” rating and a $12.00 target price on the stock. They noted that the move was a valuation call. Deutsche Bank restated a “hold” rating and set a $12.00 target price on shares of TerraForm Power in a report on Friday, September 28th. Finally, Citigroup assumed coverage on TerraForm Power in a report on Monday. They set a “neutral” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.55.
Shares of TerraForm Power stock traded up $0.02 during trading on Friday, reaching $11.63. The company’s stock had a trading volume of 2,203,300 shares, compared to its average volume of 992,400. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $2.41 billion, a PE ratio of -9.70 and a beta of 0.77. TerraForm Power Inc has a one year low of $9.90 and a one year high of $12.14.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, November 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.53%. TerraForm Power’s payout ratio is presently -62.81%.
Hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. acquired a new stake in TerraForm Power during the third quarter worth about $100,000. United Services Automobile Association acquired a new stake in TerraForm Power during the second quarter worth about $119,000. Jane Street Group LLC acquired a new stake in TerraForm Power during the second quarter worth about $121,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in TerraForm Power during the third quarter worth about $171,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in TerraForm Power during the third quarter worth about $203,000. 91.74% of the stock is currently owned by institutional investors and hedge funds.
TerraForm Power Company Profile (NASDAQ:TERP)
TerraForm Power, Inc, together with its subsidiaries, owns and operates clean power generation assets. As of December 31, 2017, its portfolio consisted of solar and wind projects located in the United States, Canada, the United Kingdom, and Chile with a combined nameplate capacity of 2,606.4 megawatts.
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