The Manufacturers Life Insurance Company lessened its holdings in TerraForm Power, Inc. New (NASDAQ:TERP) by 47.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,544 shares of the solar energy provider’s stock after selling 30,850 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in TerraForm Power, Inc. New were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. First Trust Advisors LP purchased a new stake in TerraForm Power, Inc. New during the 4th quarter worth approximately $1,478,000. Ecofin Ltd. increased its stake in TerraForm Power, Inc. New by 112.5% during the 4th quarter. Ecofin Ltd. now owns 2,934,375 shares of the solar energy provider’s stock worth $35,095,000 after buying an additional 1,553,675 shares in the last quarter. Shelton Capital Management purchased a new stake in TerraForm Power, Inc. New during the 4th quarter worth approximately $179,000. Teacher Retirement System of Texas purchased a new stake in TerraForm Power, Inc. New during the 4th quarter worth approximately $151,000. Finally, Aquamarine Capital Management LLC increased its stake in TerraForm Power, Inc. New by 10.4% during the 4th quarter. Aquamarine Capital Management LLC now owns 231,183 shares of the solar energy provider’s stock worth $2,765,000 after buying an additional 21,748 shares in the last quarter. Hedge funds and other institutional investors own 43.91% of the company’s stock.
TERP has been the subject of several research reports. TheStreet lowered TerraForm Power, Inc. New from a “c-” rating to a “d+” rating in a research note on Thursday, November 30th. Goldman Sachs lowered TerraForm Power, Inc. New from a “neutral” rating to a “sell” rating in a research note on Thursday, March 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $14.00.
In related news, CEO John Stinebaugh bought 8,100 shares of the stock in a transaction dated Friday, November 30th. The shares were acquired at an average cost of $12.42 per share, for a total transaction of $100,602.00. Following the acquisition, the chief executive officer now directly owns 8,100 shares in the company, valued at approximately $100,602. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 34.55% of the company’s stock.
TERP stock opened at $10.75 on Wednesday. The firm has a market capitalization of $1,665.97, a P/E ratio of -7.47 and a beta of 0.99. TerraForm Power, Inc. New has a twelve month low of $10.02 and a twelve month high of $14.20. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 1.35.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 7.07%. The ex-dividend date of this dividend is Tuesday, February 27th. TerraForm Power, Inc. New’s dividend payout ratio is currently -52.78%.
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About TerraForm Power, Inc. New
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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