8point3 Energy Partners LP (NASDAQ:CAFD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “8point3 Energy Partners LP owns, operates and acquires solar energy generation projects primarily in the United States. It serves residential, commercial and industrial customers. 8point3 Energy Partners LP is based in San Jose. “

A number of other research firms have also recently commented on CAFD. BidaskClub upgraded 8point3 Energy Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. TheStreet upgraded 8point3 Energy Partners from a “d” rating to a “b-” rating in a research note on Wednesday, August 9th. FBR & Co reiterated a “neutral” rating and set a $15.00 target price (up from $14.00) on shares of 8point3 Energy Partners in a research note on Wednesday, October 4th. Robert W. Baird reiterated a “buy” rating and set a $16.00 target price on shares of 8point3 Energy Partners in a research note on Friday, October 20th. Finally, Roth Capital set a $15.00 target price on 8point3 Energy Partners and gave the stock a “hold” rating in a research note on Wednesday, October 4th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. 8point3 Energy Partners currently has a consensus rating of “Hold” and a consensus target price of $13.92.

8point3 Energy Partners (NASDAQ:CAFD) last released its earnings results on Wednesday, October 4th. The energy company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.38). The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $25.85 million. 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%.

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Institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its stake 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 valued at $142,000 after acquiring an additional 1,200 shares during the period. Cornerstone Advisors Inc. raised its stake 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 valued at $152,000 after acquiring an additional 3,325 shares during the period. Bayesian Capital Management LP bought a new stake in 8point3 Energy Partners in the 2nd quarter valued at about $165,000. Credit Suisse AG raised its stake 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 valued at $182,000 after acquiring an additional 2,168 shares during the period. Finally, UBS Group AG raised its stake 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 acquiring an additional 2,630 shares during the period. Institutional investors and hedge funds own 19.93% 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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Analyst Recommendations for 8point3 Energy Partners (NASDAQ:CAFD)

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