8point3 Energy Partners LP (CAFD) Coverage Initiated at Bank of America Corp.
Analysts at Bank of America Corp. initiated coverage on shares of 8point3 Energy Partners LP (NASDAQ:CAFD) in a report issued on Tuesday. The firm set a “buy” rating on the stock.
Several other equities analysts have also issued reports on CAFD. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of 8point3 Energy Partners in a research note 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. Robert W. Baird set a $20.00 target price on 8point3 Energy Partners and gave the stock a “buy” rating in a report on Wednesday, September 21st. Deutsche Bank AG reaffirmed a “buy” rating and set a $18.00 target price on shares of 8point3 Energy Partners in a report on Wednesday, September 21st. Finally, Zacks Investment Research downgraded 8point3 Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Friday, September 23rd. Two analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $18.75.
8point3 Energy Partners (NASDAQ:CAFD) opened at 14.44 on Tuesday. The stock has a 50 day moving average of $14.90 and a 200 day moving average of $15.26. 8point3 Energy Partners has a 52 week low of $11.60 and a 52 week high of $17.34. The company has a market cap of $289.06 million, a PE ratio of 6.87 and a beta of 1.26.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/8point3-energy-partners-lp-cafd-coverage-initiated-at-bank-of-america-corp.html
8point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings results on Tuesday, September 20th. The company reported $0.38 EPS for the quarter, meeting the consensus estimate of $0.38. The firm had revenue of $26.10 million for the quarter. 8point3 Energy Partners had a return on equity of 2.58% and a net margin of 87.76%. Equities research analysts predict that 8point3 Energy Partners will post $0.90 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were paid a dividend of $0.2406 per share. This represents a $0.96 annualized dividend and a dividend yield of 6.66%. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, September 29th.
Hedge funds have recently modified their holdings of the company. BlackRock Group LTD boosted 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. Bessemer Group Inc. purchased a new stake in shares of 8point3 Energy Partners during the first quarter valued at approximately $157,000. Renaissance Technologies LLC purchased a new stake in shares of 8point3 Energy Partners during the first quarter valued at approximately $190,000. Raymond James & Associates boosted its stake in shares of 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 during the last quarter. Finally, New Harbor Financial Group LLC purchased a new stake in shares of 8point3 Energy Partners during the third quarter valued at approximately $457,000. Hedge funds and other institutional investors own 48.94% of the company’s stock.
About 8point3 Energy Partners
8Point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of July 31, 2016, the Company owned a 28.2% limited liability company interest in 8point3 Operating Company, LLC (OpCo). As of July 31, 2016, the Company’s portfolio consisted of interests in 530 megawatts (MW) of solar energy projects.
Receive News & Ratings for 8point3 Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8point3 Energy Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.