8point3 Energy Partners LP (CAFD) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) have earned a consensus recommendation of “Hold” from the nineteen ratings firms that are presently covering the stock, Marketbeat.com reports. Six equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $14.09.
CAFD has been the subject of a number of research analyst reports. TheStreet upgraded shares of 8point3 Energy Partners from a “d” rating to a “b-” rating in a research report on Wednesday, August 9th. Robert W. Baird reiterated a “buy” rating and issued a $16.00 target price on shares of 8point3 Energy Partners in a research report on Friday, October 20th. BidaskClub upgraded shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of 8point3 Energy Partners from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Finally, Oppenheimer restated a “hold” rating on shares of 8point3 Energy Partners in a research note on Thursday, October 5th.
Large investors have recently bought and sold shares of the stock. AE Wealth Management LLC acquired a new position in 8point3 Energy Partners in the 3rd quarter valued at $156,000. Bayesian Capital Management LP acquired a new position in 8point3 Energy Partners in the 2nd quarter valued at $165,000. Credit Suisse AG grew 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 buying an additional 2,168 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in 8point3 Energy Partners in the 2nd quarter valued at $250,000. Finally, Global X Management Co. LLC grew its stake in 8point3 Energy Partners by 67.2% in the 2nd quarter. Global X Management Co. LLC now owns 18,095 shares of the energy company’s stock valued at $274,000 after buying an additional 7,273 shares during the last quarter. Institutional investors and hedge funds own 18.50% of the company’s stock.
8point3 Energy Partners (NASDAQ:CAFD) last released its earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $25.85 million. equities research analysts expect that 8point3 Energy Partners will post 0.53 EPS for the current fiscal year.
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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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