Zacks Investment Research upgraded shares of TerraForm Power, Inc. (NASDAQ:TERP) from a sell rating to a hold rating in a research note published on Wednesday.
According to Zacks, “TerraForm Power, Inc. is global renewable energy company. It operates clean power generation assets such as solar, wind, natural gas, geothermal and hydro-electricity. The Company owns and operates solar generation assets serving utility, commercial, and residential customers. TerraForm Power, Inc. is based in Beltsville, Maryland. “
Separately, BidaskClub raised shares of TerraForm Power from a sell rating to a hold rating in a research report on Friday, June 23rd. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $12.70.
Shares of TerraForm Power (TERP) traded up 0.25% during mid-day trading on Wednesday, reaching $12.20. 86,403 shares of the company’s stock traded hands. The firm’s market capitalization is $1.52 billion. TerraForm Power has a 12-month low of $10.99 and a 12-month high of $14.69. The stock has a 50-day moving average price of $12.02 and a 200 day moving average price of $12.15.
Large investors have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its stake in TerraForm Power by 7.4% in the fourth quarter. Teachers Advisors LLC now owns 151,572 shares of the solar energy provider’s stock worth $1,942,000 after buying an additional 10,476 shares during the last quarter. State Street Corp boosted its stake in TerraForm Power by 4.8% in the fourth quarter. State Street Corp now owns 1,558,243 shares of the solar energy provider’s stock worth $19,959,000 after buying an additional 71,204 shares during the last quarter. Global X Management Co. LLC boosted its stake 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 during the last quarter. American International Group Inc. boosted its stake in TerraForm Power by 7.1% in the first quarter. American International Group Inc. now owns 53,859 shares of the solar energy provider’s stock worth $666,000 after buying an additional 3,559 shares during the last quarter. Finally, Gargoyle Investment Advisor L.L.C. purchased a new stake in TerraForm Power during the first quarter worth approximately $269,000. 80.42% of the stock is owned by institutional investors.
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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