8point3 Energy Partners LP (CAFD) Given Consensus Rating of “Buy” by Analysts
Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) have earned an average recommendation of “Buy” from the fourteen research firms that are covering the firm. Two investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $19.11.
A number of research firms recently weighed in on CAFD. JPMorgan Chase & Co. set a $20.00 target price on shares of 8point3 Energy Partners and gave the company a “buy” rating in a report on Wednesday, September 28th. 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 target price on shares of 8point3 Energy Partners and gave the company a “buy” rating in a report on Wednesday, September 21st. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $20.00 target price on shares of 8point3 Energy Partners in a report on Friday, September 23rd. Finally, Bank of America Corp. started coverage on 8point3 Energy Partners in a research report on Tuesday, October 18th. They issued a “buy” rating and a $18.00 price target for the company.
Several large investors have recently added to or reduced their stakes in the company. BlackRock Group LTD increased its stake in 8point3 Energy Partners by 110.7% in the second quarter. BlackRock Group LTD now owns 6,368 shares of the company’s stock worth $101,000 after buying an additional 3,346 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of 8point3 Energy Partners by 37.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,407 shares of the company’s stock worth $107,000 after buying an additional 2,000 shares during the last quarter. Cornerstone Advisors Inc. bought a new position in shares of 8point3 Energy Partners during the third quarter worth about $144,000. Prescott Group Capital Management L.L.C. bought a new position in shares of 8point3 Energy Partners during the third quarter worth about $157,000. Finally, Analytic Investors LLC bought a new position in shares of 8point3 Energy Partners during the third quarter worth about $206,000. 49.38% of the stock is owned by hedge funds and other institutional investors.
8point3 Energy Partners (NASDAQ:CAFD) traded down 0.85% during mid-day trading on Thursday, reaching $12.90. 164,886 shares of the company were exchanged. The stock has a 50-day moving average price of $0.00 and a 200 day moving average price of $0.00. 8point3 Energy Partners has a one year low of $11.60 and a one year high of $17.34.
8point3 Energy Partners (NASDAQ:CAFD) last posted its earnings results on Tuesday, September 20th. The company reported $0.38 earnings per share for the quarter, meeting analysts’ consensus estimates 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. Analysts forecast that 8point3 Energy Partners will post $0.92 EPS for the current year.
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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