8Point3 Energy Partners LP (NASDAQ:CAFD) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research report issued on Monday. They presently have a $13.66 price target on the energy company’s stock. Vetr‘s price objective indicates a potential upside of 3.41% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. FBR & Co lowered shares of 8Point3 Energy Partners from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $15.00 to $13.00 in a report on Tuesday, April 11th. TheStreet lowered shares of 8Point3 Energy Partners from a “c-” rating to a “d” rating in a report on Thursday, April 6th. Barclays PLC lowered their price target on shares of 8Point3 Energy Partners from $18.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 6th. Bank of America Corp lowered shares of 8Point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a report on Thursday, April 6th. Finally, Oppenheimer Holdings Inc. reaffirmed a “market perform” rating on shares of 8Point3 Energy Partners in a report on Thursday, April 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six 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 “Hold” and an average target price of $15.81.

Analyst Recommendations for 8Point3 Energy Partners (NASDAQ:CAFD)

Shares of 8Point3 Energy Partners (NASDAQ:CAFD) traded up 0.23% during trading on Monday, reaching $13.21. The company had a trading volume of 151,540 shares. The stock has a market capitalization of $370.88 million, a price-to-earnings ratio of 16.25 and a beta of 0.91. The company’s 50 day moving average is $12.65 and its 200-day moving average is $13.12. 8Point3 Energy Partners has a 1-year low of $11.51 and a 1-year high of $17.34.

8Point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings results on Wednesday, April 5th. The energy company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.18) by $0.21. 8Point3 Energy Partners had a net margin of 44.30% and a return on equity of 3.62%. The company had revenue of $9.90 million for the quarter, compared to analyst estimates of $9.64 million. On average, equities research analysts anticipate that 8Point3 Energy Partners will post $0.87 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of CAFD. Eventide Asset Management LLC increased its position in shares of 8Point3 Energy Partners by 6.2% in the fourth quarter. Eventide Asset Management LLC now owns 1,553,700 shares of the energy company’s stock worth $20,167,000 after buying an additional 91,200 shares during the period. Quentec Asset Management LLC increased its position in shares of 8Point3 Energy Partners by 20.8% in the third quarter. Quentec Asset Management LLC now owns 1,307,318 shares of the energy company’s stock worth $18,826,000 after buying an additional 225,213 shares during the period. Icon Advisers Inc. Co. increased its position in shares of 8Point3 Energy Partners by 54.7% in the first quarter. Icon Advisers Inc. Co. now owns 687,564 shares of the energy company’s stock worth $9,330,000 after buying an additional 243,200 shares during the period. Guggenheim Capital LLC increased its position in shares of 8Point3 Energy Partners by 1.7% in the fourth quarter. Guggenheim Capital LLC now owns 686,595 shares of the energy company’s stock worth $8,912,000 after buying an additional 11,568 shares during the period. Finally, Evergreen Capital Management LLC increased its position in shares of 8Point3 Energy Partners by 104.5% in the first quarter. Evergreen Capital Management LLC now owns 565,790 shares of the energy company’s stock worth $7,678,000 after buying an additional 289,086 shares during the period. Institutional investors and hedge funds own 62.03% of the company’s stock.

About 8Point3 Energy Partners

8point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of November 30, 2016, Company’s portfolio comprised interests in 642 Megawatt (MW) of solar energy projects. The Company is developing projects under utility, commercial and industrial (C&I) and residential categories.

12 Month Chart for NASDAQ:CAFD

To view Vetr’s full report, visit Vetr’s official website.

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