8point3 Energy Partners LP (NASDAQ:CAFD) has been given a $20.00 price target by research analysts at Robert W. Baird in a research note issued on Wednesday. The brokerage currently has a a “buy” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 29.45% from the company’s current price.

A number of other research firms also recently weighed in on CAFD. Zacks Investment Research raised 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. Deutsche Bank AG reaffirmed a “buy” rating and issued a $18.00 target price on shares of 8point3 Energy Partners in a research report on Wednesday. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Mizuho cut their price objective 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. Finally, Wells Fargo & Co. assumed coverage on shares of 8point3 Energy Partners in a research report on Wednesday, June 1st. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. 8point3 Energy Partners currently has an average rating of “Buy” and a consensus price target of $18.43.

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

8point3 Energy Partners (NASDAQ:CAFD) traded down 0.97% during trading on Wednesday, hitting $15.30. 280,471 shares of the stock traded hands. The firm has a 50-day moving average price of $15.78 and a 200 day moving average price of $15.33. 8point3 Energy Partners has a 52-week low of $10.26 and a 52-week high of $17.34. The company 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 released its earnings results on Tuesday, September 20th. The company reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. The firm had revenue of $26.10 million for the quarter. 8point3 Energy Partners had a net margin of 138.38% and a return on equity of 1.67%. On average, equities analysts expect that 8point3 Energy Partners will post $0.85 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be paid a $0.2406 dividend. This represents a $0.96 annualized dividend and a dividend yield of 6.23%. The ex-dividend date is Thursday, September 29th. This is a boost from 8point3 Energy Partners’s previous quarterly dividend of $0.23.

Several institutional investors have recently modified their holdings of CAFD. Beach Investment Counsel Inc. PA boosted its position in shares of 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 valued at $23,336,000 after buying an additional 883,349 shares during the period. Quentec Asset Management LLC boosted its position in shares of 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 valued at $16,152,000 after buying an additional 123,213 shares during the period. Guggenheim Capital LLC boosted its position in shares of 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 during the period. Ameriprise Financial Inc. boosted its position 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 period. Finally, Ecofin Ltd. boosted its position 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 period. Hedge funds and other institutional investors own 68.78% of the company’s stock.

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.

5 Day Chart for NASDAQ:CAFD

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