TerraForm Power Inc (NASDAQ:TERP) seems to be on a bit of a roller coaster ride as of late. After seeing a rise in share price yesterday, the stock is down big today. This comes on the heels of news that the company will begin trading ex-dividend on November 27, with a dividend payment of $0.35 per share on schedule to be paid in mid December. This is a very hefty dividend yield, on the stock.
The stock is down 16.24% or $1.43 after the news, hitting $7.4 per share. About 10.21M shares traded hands or 142.52% up from the average. TERP has declined 79.01% since April 23, 2015 and is downtrending. It has underperformed by 77.88% the S&P500.
Out of 8 analysts covering Terraform Power Inc (NASDAQ:TERP), 4 rate it “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $41 is the highest target while $14 is the lowest. The $24.86 average target is 235.95% above today’s ($7.4) stock price. Terraform Power Inc was the topic in 14 analyst reports since August 19, 2015 according to StockzIntelligence Inc. UBS downgraded the stock on November 16 to “Neutral” rating. Zacks downgraded the shares of TERP in a report on September 22 to “Hold” rating. Finally, Bank of America reinitiated the stock with “Buy” rating in a September 15 report.
TerraForm Power, Inc. , formerly SunEdison Yieldco, Inc., owns and operates contracted clean power generation assets. The company has a market cap of $1.24 billion. The Firm operates the power generation assets of SunEdison, Inc. and its consolidated subsidiaries (SunEdison), and third parties. It currently has negative earnings. It focuses on acquiring solar and wind generation assets serving utility, commercial and residential customers.