8point3 Energy Partners LP (CAFD) Receives Buy Rating from Robert W. Baird

Robert W. Baird reissued their buy rating on shares of 8point3 Energy Partners LP (NASDAQ:CAFD) in a research note released on Tuesday morning. Robert W. Baird currently has a $16.00 price target on the energy company’s stock.

A number of other equities research analysts also recently issued reports on CAFD. Vetr upgraded 8point3 Energy Partners from a hold rating to a buy rating and set a $13.81 price objective on the stock in a research report on Tuesday, May 16th. ValuEngine downgraded 8point3 Energy Partners from a buy rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded 8point3 Energy Partners from a hold rating to a strong-buy rating and set a $15.00 price objective on the stock in a research report on Tuesday, June 6th. Guggenheim downgraded 8point3 Energy Partners from a buy rating to a neutral rating and set a $14.00 price objective on the stock. in a research report on Wednesday, June 14th. Finally, Barclays PLC downgraded 8point3 Energy Partners from an overweight rating to an equal weight rating and lowered their price objective for the stock from $15.01 to $14.00 in a research report on Tuesday, June 27th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. 8point3 Energy Partners has a consensus rating of Hold and a consensus target price of $14.93.

8point3 Energy Partners (CAFD) opened at 14.36 on Tuesday. The stock has a 50 day moving average price of $14.60 and a 200 day moving average price of $13.33. 8point3 Energy Partners has a 52 week low of $12.04 and a 52 week high of $15.74. The company has a market cap of $403.24 million, a price-to-earnings ratio of 56.09 and a beta of 0.83.

8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings data on Thursday, June 29th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). 8point3 Energy Partners had a return on equity of 1.94% and a net margin of 23.87%. The business had revenue of $16.68 million during the quarter, compared to analysts’ expectations of $15.52 million. On average, equities analysts forecast that 8point3 Energy Partners will post $0.85 earnings per share for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Avenir Corp bought a new position in 8point3 Energy Partners in the first quarter valued at $1,090,000. 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 acquiring an additional 16,999 shares during the last quarter. Evergreen Capital Management LLC increased its stake in 8point3 Energy Partners by 104.5% in the first quarter. Evergreen Capital Management LLC now owns 565,790 shares of the energy company’s stock valued at $7,678,000 after acquiring an additional 289,086 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in 8point3 Energy Partners in the first quarter valued at $441,000. Finally, Cornerstone Advisors Inc. increased its stake in 8point3 Energy Partners by 49.3% in the second quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock valued at $152,000 after acquiring an additional 3,325 shares during the last quarter. 56.33% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for 8point3 Energy Partners (NASDAQ:CAFD)

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