8point3 Energy Partners LP (CAFD) PT Set at $15.00 by Roth Capital
8point3 Energy Partners LP (NASDAQ:CAFD) received a $15.00 target price from equities research analysts at Roth Capital in a research report issued on Wednesday. The firm currently has a “hold” rating on the energy company’s stock. Roth Capital’s price target points to a potential upside of 0.27% from the company’s current price.
Several other research firms have also recently issued reports on CAFD. BidaskClub upgraded 8point3 Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. TheStreet upgraded 8point3 Energy Partners from a “d” rating to a “b-” rating in a report on Wednesday, August 9th. Vetr upgraded 8point3 Energy Partners from a “sell” rating to a “hold” rating and set a $14.49 price objective on the stock in a report on Tuesday, June 27th. FBR & Co restated a “hold” rating on shares of 8point3 Energy Partners in a report on Wednesday. Finally, Barclays PLC cut 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $15.01 to $14.00 in a report on Tuesday, June 27th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. 8point3 Energy Partners presently has an average rating of “Hold” and an average target price of $14.00.
Shares of 8point3 Energy Partners (NASDAQ:CAFD) traded up 1.37% during trading on Wednesday, hitting $14.96. The stock had a trading volume of 491,760 shares. 8point3 Energy Partners has a 12-month low of $12.04 and a 12-month high of $15.69. The stock’s 50 day moving average is $14.65 and its 200-day moving average is $14.65.
8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings data on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $27.74 million for the quarter, compared to analyst estimates of $25.85 million. On average, analysts forecast that 8point3 Energy Partners will post $0.86 earnings per share for the current year.
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Institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. boosted its holdings in 8point3 Energy Partners by 14.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock valued at $142,000 after acquiring an additional 1,200 shares during the last quarter. Cornerstone Advisors Inc. boosted its holdings in 8point3 Energy Partners by 49.3% in the second quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock valued at $152,000 after acquiring an additional 3,325 shares during the last quarter. Global X Management Co. LLC boosted its holdings in 8point3 Energy Partners by 7.6% in the first quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock valued at $147,000 after acquiring an additional 761 shares during the last quarter. Bayesian Capital Management LP acquired a new position in 8point3 Energy Partners in the second quarter valued at $165,000. Finally, Credit Suisse AG boosted its holdings in 8point3 Energy Partners by 19.3% in the first quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock valued at $182,000 after acquiring an additional 2,168 shares during the last quarter. Hedge funds and other institutional investors own 19.66% 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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