Oppenheimer upgraded shares of TerraForm Power (NASDAQ:TERP) from a market perform rating to an outperform rating in a report issued on Wednesday morning, Marketbeat reports. Oppenheimer currently has $14.00 price target on the solar energy provider’s stock. Oppenheimer also issued estimates for TerraForm Power’s FY2020 earnings at $0.66 EPS.

TERP has been the subject of a number of other reports. JPMorgan Chase & Co. upgraded shares of TerraForm Power from a neutral rating to an overweight rating and set a $13.00 price target for the company in a research report on Thursday, May 3rd. BidaskClub upgraded shares of TerraForm Power from a sell rating to a hold rating in a research report on Tuesday, April 24th. ValuEngine upgraded shares of TerraForm Power from a sell rating to a hold rating in a research report on Saturday, June 2nd. BMO Capital Markets assumed coverage on shares of TerraForm Power in a research report on Wednesday, July 25th. They set a market perform rating and a $11.50 price target for the company. Finally, UBS Group upgraded shares of TerraForm Power from a market perform rating to an outperform rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. TerraForm Power currently has an average rating of Hold and an average price target of $13.44.

TERP stock opened at $11.25 on Wednesday. TerraForm Power has a 12-month low of $9.90 and a 12-month high of $14.20. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market cap of $1.58 billion, a PE ratio of -9.30 and a beta of 0.90.

TerraForm Power (NASDAQ:TERP) last posted its quarterly earnings results on Monday, August 13th. The solar energy provider reported ($0.13) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.13). TerraForm Power had a negative net margin of 8.33% and a negative return on equity of 0.11%. The company had revenue of $179.89 million during the quarter, compared to the consensus estimate of $162.69 million. During the same period last year, the firm earned $0.08 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. analysts forecast that TerraForm Power will post 0.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 15th. Stockholders of record on Saturday, September 1st will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.76%. TerraForm Power’s dividend payout ratio (DPR) is -62.81%.

In other TerraForm Power news, major shareholder Brookfield Asset Management In acquired 60,975,609 shares of the company’s stock in a transaction dated Monday, June 11th. The stock was acquired at an average cost of $10.66 per share, with a total value of $649,999,991.94. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.01% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of TERP. Amalgamated Bank purchased a new stake in TerraForm Power in the 2nd quarter worth approximately $119,000. United Services Automobile Association purchased a new stake in TerraForm Power in the 2nd quarter worth approximately $119,000. Jane Street Group LLC purchased a new stake in TerraForm Power in the 2nd quarter worth approximately $121,000. Cubist Systematic Strategies LLC grew its stake in TerraForm Power by 314.4% in the 1st quarter. Cubist Systematic Strategies LLC now owns 11,799 shares of the solar energy provider’s stock worth $127,000 after acquiring an additional 8,952 shares during the period. Finally, Teacher Retirement System of Texas purchased a new stake in TerraForm Power in the 2nd quarter worth approximately $158,000. 48.06% of the stock is owned by institutional investors and hedge funds.

About TerraForm Power

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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Analyst Recommendations for TerraForm Power (NASDAQ:TERP)

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