Research Analysts Offer Predictions for 8Point3 Energy Partners LP’s Q3 2017 Earnings (CAFD)
8Point3 Energy Partners LP (NASDAQ:CAFD) – Research analysts at Roth Capital upped their Q3 2017 earnings per share (EPS) estimates for 8Point3 Energy Partners in a research report issued on Wednesday, according to Zacks Investment Research. Roth Capital analyst P. Shen now forecasts that the energy company will post earnings per share of $0.52 for the quarter, up from their previous forecast of $0.51. Roth Capital currently has a “Neutral” rating and a $18.00 price target on the stock. Roth Capital also issued estimates for 8Point3 Energy Partners’ Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.59 EPS and Q4 2018 earnings at $0.20 EPS.
8Point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings data on Wednesday, April 5th. The energy company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.21. The firm earned $9.90 million during the quarter, compared to analysts’ expectations of $9.64 million. 8Point3 Energy Partners had a net margin of 44.30% and a return on equity of 3.62%.
Other equities research analysts have also issued reports about the company. Vetr lowered 8Point3 Energy Partners from a “strong-buy” rating to a “buy” rating and set a $14.74 price target for the company. in a report on Tuesday, March 28th. Guggenheim upgraded 8Point3 Energy Partners from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, January 12th. TheStreet upgraded 8Point3 Energy Partners from a “d+” rating to a “c-” rating in a report on Thursday, January 26th. Zacks Investment Research upgraded 8Point3 Energy Partners from a “strong sell” rating to a “hold” rating and set a $15.00 target price for the company in a report on Tuesday, January 3rd. Finally, Williams Capital initiated coverage on 8Point3 Energy Partners in a report on Thursday, February 9th. They issued a “hold” rating and a $14.00 target price for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $15.87.
Shares of 8Point3 Energy Partners (NASDAQ:CAFD) traded up 0.41% on Friday, hitting $12.18. 282,034 shares of the company were exchanged. The firm has a market cap of $341.97 million, a P/E ratio of 14.98 and a beta of 0.91. 8Point3 Energy Partners has a 52-week low of $11.51 and a 52-week high of $17.34. The company has a 50-day moving average price of $12.72 and a 200 day moving average price of $13.44.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in 8Point3 Energy Partners by 37.0% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 7,407 shares of the energy company’s stock worth $107,000 after buying an additional 2,000 shares in the last quarter. Bessemer Group Inc. purchased a new stake in 8Point3 Energy Partners during the fourth quarter worth about $140,000. Cornerstone Advisors Inc. purchased a new stake in 8Point3 Energy Partners during the third quarter worth about $144,000. Prescott Group Capital Management L.L.C. purchased a new stake in 8Point3 Energy Partners during the third quarter worth about $157,000. Finally, Analytic Investors LLC purchased a new stake in 8Point3 Energy Partners during the third quarter worth about $206,000. Institutional investors own 62.03% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Stockholders of record on Tuesday, April 4th were issued a dividend of $0.2565 per share. The ex-dividend date of this dividend was Friday, March 31st. This is a positive change from 8Point3 Energy Partners’s previous quarterly dividend of $0.25. This represents a $1.03 dividend on an annualized basis and a dividend yield of 8.42%.
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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