Institutional Move: Terraform Pwr INC (TERP) Valuation Rose While Vertex One Asset Management INC Has Boosted Its Holding

Institutional Move: Terraform Pwr INC (TERP) Valuation Rose While Vertex One Asset Management INC Has Boosted Its Holding

John Thiessen increased its stake in Terraform Pwr Inc (TERP) by 815.5% based on its latest 2016Q3 regulatory filing with the SEC. Vertex One Asset Management Inc bought 1.63M shares as the company’s stock rose 27.15% with the market. The hedge fund run by John Thiessen held 1.83 million shares of the public utilities company at the end of 2016Q3, valued at $25.47 million, up from 200,000 at the end of the previous reported quarter. Vertex One Asset Management Inc who had been investing in Terraform Pwr Inc for a number of months, seems to be bullish on the $1.76B market cap company. The stock is down 7.29% or $0.98 hitting $12.46, despite the positive news. About 652,341 shares traded hands. TerraForm Power Inc (NASDAQ:TERP) has risen 47.69% since June 7, 2016 and is uptrending. It has outperformed by 40.27% the S&P500.

Vertex One Asset Management Inc, which manages about $630.96 million US Long portfolio, decreased its stake in Itc Hldgs Corp (NYSE:ITC) by 65,224 shares to 285,642 shares, valued at $13.28 million in 2016Q3, according to the filing. It also reduced its holding in Take (NASDAQ:TTWO) by 168,653 shares in the quarter, leaving it with 159,047 shares, and cut its stake in Fiat Chrysler Automobiles N.

Vertex One Asset Management of John Thiessen had been created in 1997 and as stated by the company itself, it searches for “growth, value and event driven opportunities in fixed income and equity.” Vertex One Asset Management searches for companies that are misvalued and having a catalyst sometimes in the near future, while at the same time giving attention to valuation related to industry peers.

More notable recent TerraForm Power Inc (NASDAQ:TERP) news were published by: Reuters.com which released: “Brookfield Asset lists proposals for potential TerraForm Power deal” on January 10, 2017, also Fool.com with their article: “3 Reasons TerraForm Power Inc Stock Could Rise” published on January 02, 2017, Fool.com published: “3 Reasons TerraForm Power Inc Stock Could Fall” on December 27, 2016. More interesting news about TerraForm Power Inc (NASDAQ:TERP) were released by: Fool.com and their article: “Ignore TerraForm Power Inc.: Here Are 3 Better Yieldco Stocks” published on December 18, 2016 as well as Bizjournals.com‘s news article titled: “TerraForm Power to sell UK projects in $580 million deal” with publication date: January 09, 2017.

According to Zacks Investment Research, “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.”

TerraForm Power Inc (NASDAQ:TERP) Ratings Coverage

Out of 10 analysts covering Terraform Power Inc (NASDAQ:TERP), 3 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 30% are positive. Terraform Power Inc has been the topic of 22 analyst reports since August 19, 2015 according to StockzIntelligence Inc. The rating was downgraded by JP Morgan to “Neutral” on Wednesday, March 30. The firm has “Market Outperform” rating by Avondale given on Wednesday, June 29. The stock of TerraForm Power Inc (NASDAQ:TERP) has “Neutral” rating given on Tuesday, January 19 by Bank of America. On Thursday, August 27 the stock rating was downgraded by Robert W. Baird to “Neutral”. The stock of TerraForm Power Inc (NASDAQ:TERP) earned “Outperform” rating by Oppenheimer on Tuesday, December 1. Zacks downgraded the stock to “Buy” rating in Wednesday, August 26 report. On Tuesday, September 15 the stock rating was reinitiated by Bank of America with “Buy”. The firm has “Sell” rating by UBS given on Wednesday, November 25. The company was downgraded on Wednesday, July 27 by Oppenheimer. The rating was maintained by Deutsche Bank on Monday, September 21 with “Buy”.

TERP Company Profile

TerraForm Power, Inc. is a diversified owner of clean power generation assets in developed markets. This includes solar and wind assets located in the United States, Canada, the United Kingdom and Chile. The Company’s 2,967 megawatts renewable energy portfolio enables power production around the clock.

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