Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) have been given a consensus rating of “Hold” by the twenty research firms that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $14.85.
Several analysts have recently issued reports on CAFD shares. Vetr lowered 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating and set a $13.81 target price on the stock. in a report on Monday, May 1st. Zacks Investment Research lowered 8point3 Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 13th. ValuEngine lowered 8point3 Energy Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Credit Suisse Group reduced their target price on 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating on the stock in a report on Tuesday, July 4th. Finally, BidaskClub lowered 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th.
Large investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in 8point3 Energy Partners during the fourth quarter valued at approximately $287,000. Avenir Corp purchased a new stake in 8point3 Energy Partners during the first quarter valued at approximately $1,090,000. Renaissance Technologies LLC increased its stake in 8point3 Energy Partners by 131.5% in the fourth quarter. Renaissance Technologies LLC now owns 161,916 shares of the energy company’s stock valued at $2,102,000 after buying an additional 91,971 shares in the last quarter. ICM Asset Management Inc. WA purchased a new stake in 8point3 Energy Partners during the fourth quarter valued at approximately $702,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in 8point3 Energy Partners by 28.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 76,832 shares of the energy company’s stock valued at $1,043,000 after buying an additional 16,999 shares in the last quarter. Hedge funds and other institutional investors own 55.31% of the company’s stock.
8point3 Energy Partners (NASDAQ CAFD) opened at 14.18 on Monday. 8point3 Energy Partners has a 12 month low of $11.51 and a 12 month high of $16.21. The firm has a market cap of $398.19 million, a price-to-earnings ratio of 55.39 and a beta of 0.83. The company’s 50-day moving average is $14.63 and its 200 day moving average is $13.51.
8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings data on Thursday, June 29th. The energy company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.03. The firm had revenue of $16.68 million for the quarter, compared to the consensus estimate of $15.52 million. 8point3 Energy Partners had a return on equity of 1.94% and a net margin of 23.87%. On average, equities research analysts predict that 8point3 Energy Partners will post $0.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, July 6th were issued a dividend of $0.2642 per share. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, July 3rd. This represents a $1.06 annualized dividend and a dividend yield of 7.45%.
About 8point3 Energy Partners
8point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of November 30, 2016, Company’s portfolio comprised interests in 642 Megawatt (MW) of solar energy projects. The Company is developing projects under utility, commercial and industrial (C&I) and residential categories.
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