8point3 Energy Partners LP (NASDAQ:CAFD)‘s stock had its “buy” rating reissued by equities research analysts at Bank of America Corp. in a report released on Wednesday.

CAFD has been the subject of several other reports. JPMorgan Chase & Co. set a $20.00 price target on shares of 8point3 Energy Partners and gave the company a “buy” rating in a research note on Wednesday, September 28th. 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 note on Wednesday, September 21st. Zacks Investment Research raised shares of 8point3 Energy Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Thursday, September 22nd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $20.00 price target on shares of 8point3 Energy Partners in a research note on Friday, September 23rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $18.00 price target on shares of 8point3 Energy Partners in a research note on Wednesday, September 21st. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.00.

Analyst Recommendations for 8point3 Energy Partners (NASDAQ:CAFD)

Shares of 8point3 Energy Partners (NASDAQ:CAFD) opened at 13.35 on Wednesday. The stock’s 50 day moving average is $0.00 and its 200 day moving average is $0.00.

8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings results on Tuesday, September 20th. The company reported $0.38 earnings per share for the quarter, meeting the consensus estimate of $0.38. 8point3 Energy Partners had a net margin of 87.76% and a return on equity of 2.58%. The firm earned $26.10 million during the quarter. On average, analysts expect that 8point3 Energy Partners will post $0.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Monday, October 3rd were issued a dividend of $0.2406 per share. The ex-dividend date of this dividend was Thursday, September 29th. This is a boost from 8point3 Energy Partners’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a yield of 7.21%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in 8point3 Energy Partners by 103.3% in the third quarter. Morgan Stanley now owns 84,991 shares of the company’s stock valued at $1,224,000 after buying an additional 43,193 shares during the period. Emerald Acquisition Ltd. bought a new position in 8point3 Energy Partners during the third quarter worth $1,222,000. Engineers Gate Manager LP bought a new position in 8point3 Energy Partners during the third quarter worth $401,000. BlackRock Group LTD boosted its position in 8point3 Energy Partners by 10.6% in the third quarter. BlackRock Group LTD now owns 7,043 shares of the company’s stock worth $102,000 after buying an additional 675 shares during the last quarter. Finally, Monashee Investment Management LLC bought a new position in 8point3 Energy Partners during the third quarter worth $2,414,000. Institutional investors and hedge funds own 49.34% 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.

5 Day Chart for NASDAQ:CAFD

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