8point3 Energy Partners LP (NASDAQ:CAFD) announced its earnings results on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38. 8point3 Energy Partners had a net margin of 138.38% and a return on equity of 1.67%.

Shares of 8point3 Energy Partners (NASDAQ:CAFD) traded up 3.83% during midday trading on Tuesday, hitting $15.45. 253,413 shares of the company’s stock traded hands. 8point3 Energy Partners has a 52 week low of $10.26 and a 52 week high of $17.34. The company has a 50 day moving average of $15.81 and a 200 day moving average of $15.34. The stock has a market cap of $309.22 million, a P/E ratio of 15.13 and a beta of 1.24.

A number of equities analysts have recently issued reports on CAFD shares. Zacks Investment Research upgraded shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Tuesday, June 7th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Mizuho lowered their target price on shares of 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, May 31st. Wells Fargo & Co. started coverage on shares of 8point3 Energy Partners in a research report on Wednesday, June 1st. They set an “outperform” rating on the stock. Finally, Raymond James Financial Inc. restated a “strong-buy” rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. 8point3 Energy Partners currently has a consensus rating of “Buy” and an average price target of $18.43.

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Large investors have recently bought and sold shares of the stock. BlackRock Group LTD raised its stake in 8point3 Energy Partners by 110.7% in the second quarter. BlackRock Group LTD now owns 6,368 shares of the company’s stock valued at $101,000 after buying an additional 3,346 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in 8point3 Energy Partners by 134.1% in the second quarter. Janney Montgomery Scott LLC now owns 105,520 shares of the company’s stock valued at $1,668,000 after buying an additional 60,452 shares in the last quarter. Baird Financial Group Inc. raised its stake in 8point3 Energy Partners by 1.5% in the second quarter. Baird Financial Group Inc. now owns 226,399 shares of the company’s stock valued at $3,568,000 after buying an additional 3,262 shares in the last quarter. Raymond James & Associates raised its stake in 8point3 Energy Partners by 45.4% in the second quarter. Raymond James & Associates now owns 25,272 shares of the company’s stock valued at $399,000 after buying an additional 7,890 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in 8point3 Energy Partners by 8.9% in the second quarter. Guggenheim Capital LLC now owns 711,863 shares of the company’s stock valued at $11,247,000 after buying an additional 58,460 shares in the last quarter. 68.78% of the stock is currently owned by institutional investors and hedge funds.

About 8point3 Energy Partners

8point3 Energy Partners LP (8point3 Partners) is a limited partnership formed by First Solar and SunPower to own, operate and acquire solar energy generation projects. The Company’s portfolio includes utility projects, and commercial and industrial (C&I) projects. Its utility projects include MarylandSolar project, a 100% owned project located in Maryland; Solar Gen 2 project, a 49% owned project located in California; Lost Hills / Blackwell project, a 49% owned project located in California; North Star project, a 49% owned project located in California; RPU project, a 100% owned project located in California, and Quinto project, a 100% owned project located in California.

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