Bank of America Corp. started coverage on shares of 8point3 Energy Partners LP (NASDAQ:CAFD) in a research report released on Tuesday. The brokerage issued a buy rating and a $18.00 price target on the stock.

Several other analysts have also commented on CAFD. Deutsche Bank AG reissued a buy rating and set a $18.00 price target on shares of 8point3 Energy Partners in a research 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 research 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 research 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 research report on Wednesday, September 21st. Finally, Raymond James Financial Inc. reissued a strong-buy rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $18.69.

8point3 Energy Partners (NASDAQ:CAFD) traded up 0.27% during trading on Tuesday, hitting $14.87. 19,235 shares of the company were exchanged. The stock has a market capitalization of $297.67 million, a PE ratio of 7.08 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. The firm’s 50 day moving average price is $14.87 and its 200-day moving average price is $15.26.

8point3 Energy Partners (NASDAQ:CAFD) last released 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. The business earned $26.10 million during the quarter. 8point3 Energy Partners had a net margin of 87.76% and a return on equity of 2.58%. Equities analysts predict that 8point3 Energy Partners will post $0.90 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were given a dividend of $0.2406 per share. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, September 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.49%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Beach Investment Counsel Inc. PA raised its position in shares of 8point3 Energy Partners by 148.8% in the second quarter. Beach Investment Counsel Inc. PA now owns 1,476,993 shares of the company’s stock worth $23,336,000 after buying an additional 883,349 shares during the period. Quentec Asset Management LLC raised its position 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 during the period. WFG Advisors LP acquired a new position in shares of 8point3 Energy Partners during the second quarter worth about $993,000. Janney Montgomery Scott LLC raised its position in shares of 8point3 Energy Partners by 134.1% in the second quarter. Janney Montgomery Scott LLC now owns 105,520 shares of the company’s stock worth $1,668,000 after buying an additional 60,452 shares during the period. Finally, Guggenheim Capital LLC raised its position in shares of 8point3 Energy Partners by 8.9% in the second quarter. Guggenheim Capital LLC now owns 711,863 shares of the company’s stock worth $11,247,000 after buying an additional 58,460 shares during the period. Hedge funds and other institutional investors own 48.94% of the company’s stock.

About 8point3 Energy Partners

8Point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of July 31, 2016, the Company owned a 28.2% limited liability company interest in 8point3 Operating Company, LLC (OpCo). As of July 31, 2016, the Company’s portfolio consisted of interests in 530 megawatts (MW) of solar energy projects.

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