8point3 Energy Partners LP (NASDAQ:CAFD)‘s stock had its “buy” rating reiterated by equities research analysts at Deutsche Bank AG in a research note issued to investors on Wednesday. They presently have a $18.00 target price on the stock. Deutsche Bank AG’s price objective indicates a potential upside of 17.04% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Mizuho lowered their target price on shares of 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, May 31st. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $19.00 target price on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Zacks Investment Research raised shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Tuesday, June 7th. Finally, Wells Fargo & Co. started coverage on shares of 8point3 Energy Partners in a report on Wednesday, June 1st. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.43.

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

8point3 Energy Partners (NASDAQ:CAFD) traded down 0.45% during trading on Wednesday, hitting $15.38. 337,621 shares of the stock were exchanged. 8point3 Energy Partners has a 12-month low of $10.26 and a 12-month high of $17.34. The stock has a 50 day moving average price of $15.78 and a 200-day moving average price of $15.33. The firm has a market capitalization of $307.82 million, a PE ratio of 15.06 and a beta of 1.24.

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8point3 Energy Partners (NASDAQ:CAFD) last released its earnings results on Tuesday, September 20th. The company reported $0.38 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%. The firm earned $26.10 million during the quarter. On average, equities research analysts anticipate that 8point3 Energy Partners will post $0.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a $0.2406 dividend. This is a boost from 8point3 Energy Partners’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend is Thursday, September 29th.

A number of large investors have recently modified their holdings of CAFD. Janney Montgomery Scott LLC raised its stake in shares of 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 during the last quarter. BlackRock Group LTD raised its stake in shares of 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 during the last quarter. Ameriprise Financial Inc. raised its stake in shares of 8point3 Energy Partners by 2.3% in the second quarter. Ameriprise Financial Inc. now owns 665,000 shares of the company’s stock valued at $10,507,000 after buying an additional 15,000 shares during the last quarter. Ecofin Ltd. raised its stake in shares of 8point3 Energy Partners by 4.6% in the second quarter. Ecofin Ltd. now owns 539,943 shares of the company’s stock valued at $8,531,000 after buying an additional 23,579 shares during the last quarter. Finally, Boston Common Asset Management LLC raised its stake in shares of 8point3 Energy Partners by 14.1% in the second quarter. Boston Common Asset Management LLC now owns 335,865 shares of the company’s stock valued at $5,307,000 after buying an additional 41,430 shares during the last quarter. Hedge funds and other institutional investors own 68.78% of the company’s stock.

8point3 Energy Partners Company Profile

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.

5 Day Chart for NASDAQ:CAFD

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