8point3 Energy Partners LP (NASDAQ:CAFD) was the recipient of a large drop in short interest in the month of October. As of October 13th, there was short interest totalling 512,215 shares, a drop of 26.0% from the September 29th total of 691,752 shares. Based on an average daily volume of 230,913 shares, the short-interest ratio is presently 2.2 days. Approximately 1.8% of the shares of the stock are short sold.

Shares of 8point3 Energy Partners (NASDAQ CAFD) opened at 15.32 on Friday. The stock has a market cap of $430.20 million, a PE ratio of 59.84 and a beta of 0.85. 8point3 Energy Partners has a 52-week low of $11.51 and a 52-week high of $15.79. The stock’s 50 day moving average is $14.88 and its 200 day moving average is $14.10.

8point3 Energy Partners (NASDAQ:CAFD) last issued its earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.38). 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%. The company had revenue of $27.74 million for the quarter, compared to the consensus estimate of $25.85 million. Equities research analysts forecast that 8point3 Energy Partners will post $0.53 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Tuesday, October 3rd were given a dividend of $0.2721 per share. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, October 2nd. This represents a $1.09 dividend on an annualized basis and a dividend yield of 7.10%.

Several brokerages have commented on CAFD. 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 price target on shares of 8point3 Energy Partners and gave the company a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research raised shares of 8point3 Energy Partners from a “sell” rating to a “hold” rating in a report on Thursday. Goldman Sachs Group, Inc. (The) downgraded shares of 8point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Tuesday, October 17th. Finally, Robert W. Baird reissued a “buy” rating and issued a $16.00 price target on shares of 8point3 Energy Partners in a report on Friday, October 20th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $13.92.

Several large investors have recently modified their holdings of CAFD. Parametric Portfolio Associates LLC bought a new position in shares of 8point3 Energy Partners during the first quarter worth $441,000. Global X Management Co. LLC boosted its position in shares of 8point3 Energy Partners by 7.6% during the first quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock worth $147,000 after acquiring an additional 761 shares during the last quarter. UBS Group AG boosted its position in shares of 8point3 Energy Partners by 16.6% during the first quarter. UBS Group AG now owns 18,438 shares of the energy company’s stock worth $250,000 after acquiring an additional 2,630 shares during the last quarter. Bank of America Corp DE boosted its position in shares of 8point3 Energy Partners by 63.7% during the first quarter. Bank of America Corp DE now owns 69,403 shares of the energy company’s stock worth $942,000 after acquiring an additional 26,997 shares during the last quarter. Finally, Credit Suisse AG boosted its position in shares of 8point3 Energy Partners by 19.3% during the first quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock worth $182,000 after acquiring an additional 2,168 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

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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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