Brookfield Asset Management Inc recently revealed that they own 12.1% of TerraForm Power Inc. (NASDAQ:TERP) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, October 19th. The investor owns 11,075,000 shares of the stock worth $148,515,750. The reporting parties listed on the disclosure included Brookfield Asset Management Inc, Partners Limited, Brookfield Asset Management Private Institutional Capital Adviser (Canada), LP, Brookfield Infrastructure Fund III Gp LLC, Orion Us Gp LLC, Orion Us Holdings 1 LP, Brookfield Asset Management Private Institutional Capital Adviser (Credit) LLC, Brookfield Credit Opportunities Fund Gp, LLC and Brookfield Credit Opportunities Master Fund, LP. The filing is available through the SEC website at this hyperlink.
Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA increased its stake in TerraForm Power by 109.0% in the third quarter. BNP Paribas Arbitrage SA now owns 7,228 shares of the company’s stock worth $101,000 after buying an additional 3,769 shares during the last quarter. Bank of Montreal Can increased its stake in TerraForm Power by 86.6% in the third quarter. Bank of Montreal Can now owns 8,371 shares of the company’s stock worth $116,000 after buying an additional 3,886 shares during the last quarter. ProShare Advisors LLC bought a new stake in TerraForm Power during the second quarter worth $117,000. Fox Run Management L.L.C. bought a new stake in TerraForm Power during the second quarter worth $136,000. Finally, Boston Private Wealth LLC bought a new stake in TerraForm Power during the second quarter worth $164,000. 93.25% of the stock is currently owned by institutional investors.
TerraForm Power Inc. (NASDAQ:TERP) traded up 1.90% on Wednesday, reaching $13.41. 740,011 shares of the company traded hands. TerraForm Power Inc. has a 52-week low of $6.73 and a 52-week high of $19.61. The stock has a 50-day moving average of $13.54 and a 200 day moving average of $11.12. The company’s market capitalization is $1.67 billion.
A number of equities research analysts have weighed in on TERP shares. Zacks Investment Research raised TerraForm Power from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Tuesday, August 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a $13.00 price objective on shares of TerraForm Power in a report on Monday, October 10th. Avondale Partners downgraded TerraForm Power from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of TerraForm Power in a report on Wednesday, July 27th. Finally, Robert W. Baird set a $13.00 price objective on TerraForm Power and gave the company a “neutral” rating in a report on Friday, September 23rd. Nine equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $13.33.
About TerraForm Power
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