8point3 Energy Partners LP (NASDAQ:CAFD) received a $19.00 target price from equities research analysts at JPMorgan Chase & Co. in a research note issued on Tuesday. The firm presently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s target price would suggest a potential upside of 22.98% from the stock’s current price.

A number of other equities analysts have also commented on CAFD. Robert W. Baird set a $20.00 price objective on shares of 8point3 Energy Partners and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank AG reiterated a “buy” rating and issued a $18.00 price objective on shares of 8point3 Energy Partners in a report on Wednesday. Wells Fargo & Co. began coverage on shares of 8point3 Energy Partners in a report on Wednesday, June 1st. They issued an “outperform” rating on the stock. Raymond James Financial Inc. reiterated a “strong-buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Finally, Zacks Investment Research upgraded shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, June 7th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $18.43.

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

Shares of 8point3 Energy Partners (NASDAQ:CAFD) traded down 1.04% during midday trading on Tuesday, reaching $15.29. The company’s stock had a trading volume of 275,557 shares. The stock has a 50 day moving average of $15.78 and a 200-day moving average of $15.33. 8point3 Energy Partners has a 1-year low of $10.26 and a 1-year high of $17.34. The company has a market capitalization of $306.01 million, a P/E ratio of 14.98 and a beta of 1.24.

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8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings data 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 had revenue of $26.10 million for the quarter. On average, equities research analysts anticipate that 8point3 Energy Partners will post $0.85 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders 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. The ex-dividend date is Thursday, September 29th. This represents a $0.96 annualized dividend and a yield of 6.23%.

A number of hedge funds and other institutional investors have recently bought and sold shares of CAFD. Quentec Asset Management LLC boosted its position 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 valued at $16,152,000 after buying an additional 123,213 shares during the period. Neumeier Poma Investment Counsel LLC boosted its position in 8point3 Energy Partners by 1.4% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 92,750 shares of the company’s stock valued at $1,363,000 after buying an additional 1,250 shares during the period. Bessemer Group Inc. purchased a new position in 8point3 Energy Partners during the first quarter valued at approximately $157,000. BlackRock Fund Advisors boosted its position in 8point3 Energy Partners by 84.5% in the first quarter. BlackRock Fund Advisors now owns 6,937 shares of the company’s stock valued at $102,000 after buying an additional 3,178 shares during the period. Finally, TPH Asset Management LLC boosted its position in 8point3 Energy Partners by 94.2% in the first quarter. TPH Asset Management LLC now owns 40,361 shares of the company’s stock valued at $593,000 after buying an additional 19,576 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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