8point3 Energy Partners LP (CAFD) Given a $16.00 Price Target at Bank of America Corporation
8point3 Energy Partners LP (NASDAQ:CAFD) has been given a $16.00 price target by research analysts at Bank of America Corporation in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has a “hold” rating on the energy company’s stock. Bank of America Corporation’s price objective would indicate a potential upside of 6.95% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on the company. Zacks Investment Research cut 8point3 Energy Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 31st. Credit Suisse Group dropped their price objective on 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating on the stock in a research note on Tuesday, July 4th. Vetr lowered 8point3 Energy Partners from a “hold” rating to a “sell” rating and set a $14.49 target price on the stock. in a report on Monday, July 3rd. Robert W. Baird reissued a “buy” rating and set a $16.00 target price on shares of 8point3 Energy Partners in a report on Tuesday, September 12th. Finally, BidaskClub lowered 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. 8point3 Energy Partners presently has an average rating of “Hold” and a consensus price target of $14.00.
Shares of 8point3 Energy Partners (NASDAQ CAFD) traded up 1.37% during trading on Thursday, reaching $14.96. The company’s stock had a trading volume of 491,760 shares. 8point3 Energy Partners has a 52 week low of $12.04 and a 52 week high of $15.69. The stock’s 50 day moving average price is $14.65 and its 200 day moving average price is $14.65.
8point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings data on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.38). 8point3 Energy Partners had a return on equity of 1.94% and a net margin of 23.87%. The company had revenue of $27.74 million for the quarter, compared to the consensus estimate of $25.85 million. On average, analysts expect that 8point3 Energy Partners will post $0.86 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of CAFD. Parametric Portfolio Associates LLC acquired a new position in 8point3 Energy Partners in the 1st quarter valued at $441,000. Clinton Group Inc. grew its holdings in 8point3 Energy Partners by 10.2% in the 1st quarter. Clinton Group Inc. now owns 38,206 shares of the energy company’s stock valued at $518,000 after buying an additional 3,548 shares in the last quarter. Victory Capital Management Inc. grew its holdings in 8point3 Energy Partners by 89.3% in the 1st quarter. Victory Capital Management Inc. now owns 45,423 shares of the energy company’s stock valued at $616,000 after buying an additional 21,434 shares in the last quarter. Global X Management Co. LLC grew its holdings in 8point3 Energy Partners by 7.6% in the 1st quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock valued at $147,000 after buying an additional 761 shares in the last quarter. Finally, UBS Group AG grew its holdings in 8point3 Energy Partners by 16.6% in the 1st quarter. UBS Group AG now owns 18,438 shares of the energy company’s stock valued at $250,000 after buying an additional 2,630 shares in the last quarter. 19.66% of the stock is currently owned by hedge funds and other institutional investors.
8point3 Energy Partners Company Profile
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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