8point3 Energy Partners LP (CAFD) Downgraded by Goldman Sachs Group, Inc. (The) to Neutral

Goldman Sachs Group, Inc. (The) cut shares of 8point3 Energy Partners LP (NASDAQ:CAFD) from a buy rating to a neutral rating in a research note released on Tuesday.

Several other analysts also recently weighed in on CAFD. Vetr downgraded shares of 8point3 Energy Partners from a hold rating to a sell rating and set a $13.49 target price for the company. in a report on Wednesday, June 21st. Barclays PLC downgraded shares of 8point3 Energy Partners from an overweight rating to an equal weight rating and dropped their target price for the company from $15.01 to $14.00 in a report on Tuesday, June 27th. Roth Capital set a $15.00 target price on shares of 8point3 Energy Partners and gave the company a hold rating in a report on Saturday, July 1st. FBR & Co reiterated a hold rating on shares of 8point3 Energy Partners in a report on Saturday, July 1st. Finally, Bank of America Corporation downgraded shares of 8point3 Energy Partners from a buy rating to a neutral rating and set a $13.00 target price for the company. in a report on Tuesday, July 4th. Five investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $14.09.

Shares of 8point3 Energy Partners (NASDAQ CAFD) opened at 15.48 on Tuesday. 8point3 Energy Partners has a one year low of $11.51 and a one year high of $15.79.

8point3 Energy Partners (NASDAQ:CAFD) last posted its earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.38). 8point3 Energy Partners had a net margin of 23.13% and a return on equity of 1.87%. The company had revenue of $27.74 million during the quarter, compared to analyst estimates of $25.85 million. On average, equities analysts anticipate that 8point3 Energy Partners will post $0.60 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd were given a $0.2721 dividend. This represents a $1.09 annualized dividend and a yield of 7.03%. The ex-dividend date was Monday, October 2nd. This is a boost from 8point3 Energy Partners’s previous quarterly dividend of $0.26.

A number of hedge funds have recently modified their holdings of the business. WFG Advisors LP boosted its position in 8point3 Energy Partners by 14.5% in the 2nd quarter. WFG Advisors LP now owns 148,075 shares of the energy company’s stock valued at $2,240,000 after buying an additional 18,782 shares during the period. Wealthsource Partners LLC boosted its position in 8point3 Energy Partners by 217.2% in the 2nd quarter. Wealthsource Partners LLC now owns 40,125 shares of the energy company’s stock valued at $607,000 after buying an additional 27,475 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in 8point3 Energy Partners by 102.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 155,754 shares of the energy company’s stock valued at $2,357,000 after buying an additional 78,922 shares during the period. Boston Common Asset Management LLC boosted its position in 8point3 Energy Partners by 36.3% in the 2nd quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock valued at $5,602,000 after buying an additional 98,595 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in 8point3 Energy Partners in the 2nd quarter valued at approximately $250,000. 19.66% of the stock is owned by institutional investors.

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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