8point3 Energy Partners LP (NASDAQ:CAFD) posted its earnings results on Wednesday. The energy company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.38), Yahoo Finance reports. 8point3 Energy Partners had a net margin of 23.87% and a return on equity of 1.94%. The firm had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $25.85 million.

Shares of 8point3 Energy Partners (NASDAQ CAFD) opened at 15.02 on Thursday. 8point3 Energy Partners has a 1-year low of $12.04 and a 1-year high of $15.69. The firm’s 50-day moving average price is $14.64 and its 200 day moving average price is $14.64.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd will be paid a dividend of $0.2721 per share. The ex-dividend date of this dividend is Monday, October 2nd. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a yield of 7.25%.

A hedge fund recently raised its stake in 8point3 Energy Partners stock. Vanguard Group Inc. grew its holdings in shares of 8point3 Energy Partners LP (NASDAQ:CAFD) by 4.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,041 shares of the energy company’s stock after buying an additional 5,664 shares during the period. Vanguard Group Inc. owned 0.44% of 8point3 Energy Partners worth $1,862,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 19.66% of the company’s stock.

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Several analysts have recently weighed in on the company. FBR & Co reissued a “hold” rating on shares of 8point3 Energy Partners in a report on Saturday, July 1st. Roth Capital set a $15.00 target price on 8point3 Energy Partners and gave the company a “hold” rating in a report on Saturday, July 1st. BidaskClub raised 8point3 Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Janney Montgomery Scott reduced their target price 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. Finally, TheStreet raised 8point3 Energy Partners from a “d” rating to a “b-” rating in a report on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $13.73.

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.

Earnings History for 8point3 Energy Partners (NASDAQ:CAFD)

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