Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) have received an average rating of “Buy” from the fifteen analysts that are covering the firm. Two investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $18.82.

Several research firms have recently commented on CAFD. Deutsche Bank AG reaffirmed a “buy” rating and issued a $18.00 price target on shares of 8point3 Energy Partners in a report on Wednesday, September 21st. JPMorgan Chase & Co. set a $19.00 price target on shares of 8point3 Energy Partners and gave the company a “buy” rating in a report on Tuesday, September 20th. Zacks Investment Research lowered shares of 8point3 Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Friday, September 23rd. Robert W. Baird set a $20.00 price target on shares of 8point3 Energy Partners and gave the company a “buy” rating in a report on Wednesday, September 21st. Finally, Raymond James Financial Inc. reaffirmed a “strong-buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th.

Several hedge funds have recently modified their holdings of CAFD. Quentec Asset Management LLC raised its stake in shares of 8point3 Energy Partners by 12.6% in the first quarter. Quentec Asset Management LLC now owns 1,098,715 shares of the company’s stock worth $16,152,000 after buying an additional 123,213 shares in the last quarter. Neumeier Poma Investment Counsel LLC increased its stake in 8point3 Energy Partners by 1.4% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 92,750 shares of the company’s stock worth $1,363,000 after buying an additional 1,250 shares during the last quarter. Bessemer Group Inc. acquired a new stake in 8point3 Energy Partners during the first quarter worth approximately $157,000. BlackRock Fund Advisors increased its stake in 8point3 Energy Partners by 84.5% in the first quarter. BlackRock Fund Advisors now owns 6,937 shares of the company’s stock worth $102,000 after buying an additional 3,178 shares during the last quarter. Finally, TPH Asset Management LLC increased its stake in 8point3 Energy Partners by 94.2% in the first quarter. TPH Asset Management LLC now owns 40,361 shares of the company’s stock worth $593,000 after buying an additional 19,576 shares during the last quarter. 49.05% of the stock is owned by institutional investors.

Shares of 8point3 Energy Partners (NASDAQ:CAFD) traded up 1.43% on Thursday, reaching $14.17. 74,862 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $15.02 and its 200-day moving average price is $15.26. The company has a market capitalization of $283.66 million, a P/E ratio of 6.74 and a beta of 1.26. 8point3 Energy Partners has a 1-year low of $11.60 and a 1-year high of $17.34.

8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings results on Tuesday, September 20th. The company reported $0.38 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.38. 8point3 Energy Partners had a net margin of 87.76% and a return on equity of 2.58%. The business earned $26.10 million during the quarter. Analysts anticipate that 8point3 Energy Partners will post $0.90 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be paid a $0.2406 dividend. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Thursday, September 29th.

8point3 Energy Partners Company Profile

8point3 Energy Partners LP (8point3 Partners) is a limited partnership formed by First Solar and SunPower to own, operate and acquire solar energy generation projects. The Company’s portfolio includes utility projects, and commercial and industrial (C&I) projects. Its utility projects include MarylandSolar project, a 100% owned project located in Maryland; Solar Gen 2 project, a 49% owned project located in California; Lost Hills / Blackwell project, a 49% owned project located in California; North Star project, a 49% owned project located in California; RPU project, a 100% owned project located in California, and Quinto project, a 100% owned project located in California.

5 Day Chart for NASDAQ:CAFD

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