FY2018 EPS Estimates for 8point3 Energy Partners LP Boosted by Oppenheimer Holdings (CAFD)
8point3 Energy Partners LP (NASDAQ:CAFD) – Equities researchers at Oppenheimer Holdings raised their FY2018 earnings per share estimates for 8point3 Energy Partners in a report released on Thursday. Oppenheimer Holdings analyst C. Rusch now forecasts that the energy company will post earnings per share of $0.66 for the year, up from their prior estimate of $0.62. Oppenheimer Holdings has a “Hold” rating on the stock.
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 Zacks’ consensus estimate of $0.65 by ($0.38). The firm had revenue of $27.74 million for the quarter, compared to analysts’ expectations of $25.85 million. 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%.
Other equities analysts also recently issued reports about the company. TheStreet upgraded 8point3 Energy Partners from a “d” rating to a “b-” rating in a report on Wednesday, August 9th. BidaskClub downgraded 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Robert W. Baird restated a “buy” rating and set a $16.00 price target on shares of 8point3 Energy Partners in a report on Tuesday, September 12th. Barclays PLC downgraded 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $15.01 to $14.00 in a report on Tuesday, June 27th. Finally, FBR & Co set a $14.00 price target on 8point3 Energy Partners and gave the company a “hold” rating in a report on Monday, July 10th. Four research 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. The company has a consensus rating of “Hold” and a consensus price target of $14.09.
8point3 Energy Partners (CAFD) traded down 1.07% during trading on Friday, reaching $14.80. 43,896 shares of the company’s stock were exchanged. 8point3 Energy Partners has a 12 month low of $12.04 and a 12 month high of $15.69.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its holdings in 8point3 Energy Partners by 14.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock worth $142,000 after buying an additional 1,200 shares in the last quarter. Global X Management Co. LLC increased 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 worth $147,000 after buying an additional 761 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings in 8point3 Energy Partners by 49.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock worth $152,000 after buying an additional 3,325 shares in the last quarter. Bayesian Capital Management LP bought a new stake in 8point3 Energy Partners in the 2nd quarter worth about $165,000. Finally, Credit Suisse AG increased its holdings in 8point3 Energy Partners by 19.3% in the 1st quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock worth $182,000 after buying an additional 2,168 shares in the last quarter. Institutional investors own 19.66% of the company’s stock.
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 7.28%. 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.
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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