8point3 Energy Partners LP (CAFD) Given Average Recommendation of “Hold” by Analysts
Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) have been assigned a consensus rating of “Hold” from the nineteen ratings firms that are covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $14.25.
Several brokerages have recently weighed in on CAFD. FBR & Co restated a “hold” rating on shares of 8point3 Energy Partners in a report on Saturday, July 1st. Roth Capital set a $15.00 price target on 8point3 Energy Partners and gave the company a “hold” rating in a report on Saturday, July 1st. ValuEngine downgraded 8point3 Energy Partners from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded 8point3 Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, Janney Montgomery Scott reduced their price target on 8point3 Energy Partners from $20.00 to $13.50 and set a “hold” rating for the company in a report on Tuesday, July 4th.
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Shares of 8point3 Energy Partners (CAFD) opened at 14.76 on Friday. 8point3 Energy Partners has a 1-year low of $12.04 and a 1-year high of $15.74.
8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings results on Thursday, June 29th. The energy company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.03). 8point3 Energy Partners had a net margin of 23.87% and a return on equity of 1.94%. The company had revenue of $16.68 million for the quarter, compared to the consensus estimate of $15.52 million. On average, equities analysts expect that 8point3 Energy Partners will post $0.86 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Tuesday, October 3rd will be issued a $0.2721 dividend. This represents a $1.09 annualized dividend and a yield of 7.37%. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Monday, October 2nd.
Several institutional investors have recently added to or reduced their stakes in CAFD. Benjamin F. Edwards & Company Inc. grew its stake in shares of 8point3 Energy Partners by 14.7% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock valued at $142,000 after purchasing an additional 1,200 shares during the period. Global X Management Co. LLC grew its stake in shares of 8point3 Energy Partners by 7.6% during the 1st quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock valued at $147,000 after purchasing an additional 761 shares during the period. Cornerstone Advisors Inc. grew its stake in shares of 8point3 Energy Partners by 49.3% during the 2nd quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock valued at $152,000 after purchasing an additional 3,325 shares during the period. Bayesian Capital Management LP bought a new stake in shares of 8point3 Energy Partners during the 2nd quarter valued at about $165,000. Finally, Credit Suisse AG grew its stake in shares of 8point3 Energy Partners by 19.3% during the 1st quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock valued at $182,000 after purchasing an additional 2,168 shares during the period. Institutional investors and hedge funds own 55.35% 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.
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