Brookfield Asset Management INC Increased Stake in Terraform Power INC (TERP) as Valuation Declined

October 2, 2018 - By Ruchi Gupta

Brookfield Asset Management Inc increased its stake in Terraform Power Inc (TERP) by 583.5% based on its latest 2018Q2 regulatory filing with the SEC. Brookfield Asset Management Inc bought 60.98M shares as the company’s stock declined 0.26% while stock markets rallied. The hedge fund held 71.43 million shares of the public utilities company at the end of 2018Q2, valued at $835.68 million, up from 10.45 million at the end of the previous reported quarter. Brookfield Asset Management Inc who had been investing in Terraform Power Inc for a number of months, seems to be bullish on the $2.42 billion market cap company. The stock increased 0.26% or $0.03 during the last trading session, reaching $11.58. About 600,209 shares traded. TerraForm Power, Inc. (NASDAQ:TERP) has risen 2.44% since October 2, 2017 and is uptrending. It has underperformed by 13.18% the S&P500.

Brookfield Asset Management Inc, which manages about $13.20B and $25.98B US Long portfolio, decreased its stake in Pattern Energy Group Inc (NASDAQ:PEGI) by 2.44M shares to 2.02M shares, valued at $37.86 million in 2018Q2, according to the filing. It also reduced its holding in Public Storage (NYSE:PSA) by 266,489 shares in the quarter, leaving it with 1.29 million shares, and cut its stake in Tanger Factory Outlet Ctrs I (NYSE:SKT).

More notable recent TerraForm Power, Inc. (NASDAQ:TERP) news were published by: Fool.com which released: “3 Top Solar Stocks to Watch in September” on September 19, 2018, also Benzinga.com with their article: “TerraForm Power Upgraded By Goldman Sachs: ‘We See Strong Visibility To Hit Growth Expectations'” published on September 12, 2018, Gurufocus.com published: “3 High Forward Dividend Utilities” on October 01, 2018. More interesting news about TerraForm Power, Inc. (NASDAQ:TERP) were released by: Fool.com and their article: “Wall Street Sees Brighter Days Ahead for TerraForm Power Inc.” published on September 17, 2018 as well as Globenewswire.com‘s news article titled: “Analysis: Positioning to Benefit within Kinder Morgan, Hess, TerraForm Power, American Water Works, TE Connectivity …” with publication date: September 28, 2018.

TerraForm Power, Inc. (NASDAQ:TERP) Ratings Coverage

Among 7 analysts covering TerraForm Power (NASDAQ:TERP), 4 have Buy rating, 0 Sell and 3 Hold. Therefore 57% are positive. TerraForm Power had 7 analyst reports since April 4, 2018 according to SRatingsIntel. The rating was upgraded by J.P. Morgan on Thursday, May 3 to “Buy”. The stock has “Hold” rating by Deutsche Bank on Friday, September 28. Goldman Sachs upgraded the stock to “Neutral” rating in Wednesday, September 12 report. JP Morgan upgraded the stock to “Overweight” rating in Thursday, May 3 report. As per Wednesday, August 15, the company rating was upgraded by Oppenheimer.

TerraForm Power, Inc. (NASDAQ:TERP) Ratings Chart

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