8point3 Energy Partners LP (CAFD) Given a $20.00 Price Target by Robert W. Baird Analysts
8point3 Energy Partners LP (NASDAQ:CAFD) received a $20.00 target price from research analysts at Robert W. Baird in a research note issued to investors on Wednesday. The brokerage presently has a a “buy” rating on the stock. Robert W. Baird’s price objective points to a potential upside of 29.45% from the company’s current price.
Other analysts have also recently issued research reports about the company. Mizuho decreased their target price on 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Deutsche Bank AG restated a “buy” rating and set a $18.00 target price on shares of 8point3 Energy Partners in a report on Wednesday. Oppenheimer Holdings Inc. restated 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 price target on shares of 8point3 Energy Partners in a research note on Thursday, June 30th. Finally, Zacks Investment Research raised 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Tuesday, June 7th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $18.43.
8point3 Energy Partners (NASDAQ:CAFD) traded down 0.97% during trading on Wednesday, reaching $15.30. The company’s stock had a trading volume of 320,754 shares. The stock’s 50 day moving average is $15.78 and its 200-day moving average is $15.33. 8point3 Energy Partners has a 52 week low of $10.26 and a 52 week high of $17.34. The firm has a market cap of $306.21 million, a P/E ratio of 14.99 and a beta of 1.24.
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8point3 Energy Partners (NASDAQ:CAFD) last announced its earnings results on Tuesday, September 20th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The company had revenue of $26.10 million for the quarter. 8point3 Energy Partners had a return on equity of 1.67% and a net margin of 138.38%. On average, equities research analysts forecast that 8point3 Energy Partners will post $0.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be given a dividend of $0.2406 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.23%. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.23.
Several large investors have recently added to or reduced their stakes in the company. Beach Investment Counsel Inc. PA raised its stake in 8point3 Energy Partners by 148.8% in the second quarter. Beach Investment Counsel Inc. PA now owns 1,476,993 shares of the company’s stock worth $23,336,000 after buying an additional 883,349 shares in the last quarter. Quentec Asset Management LLC raised its stake in 8point3 Energy Partners by 12.6% in the first quarter. Quentec Asset Management LLC now owns 1,098,715 shares of the company’s stock worth $16,152,000 after buying an additional 123,213 shares in the last quarter. 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 worth $11,247,000 after buying an additional 58,460 shares in the last quarter. Ameriprise Financial Inc. raised its stake in 8point3 Energy Partners by 2.3% in the second quarter. Ameriprise Financial Inc. now owns 665,000 shares of the company’s stock worth $10,507,000 after buying an additional 15,000 shares in the last quarter. Finally, Ecofin Ltd. raised its stake in 8point3 Energy Partners by 4.6% in the second quarter. Ecofin Ltd. now owns 539,943 shares of the company’s stock worth $8,531,000 after buying an additional 23,579 shares in the last quarter. 68.78% of the stock is currently owned by institutional investors.
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.
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