8point3 Energy Partners LP (NASDAQ:CAFD) announced its quarterly earnings results on Wednesday. The energy company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.38), Yahoo Finance reports. The company had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $25.85 million. 8point3 Energy Partners had a return on equity of 1.94% and a net margin of 23.87%.

Shares of 8point3 Energy Partners (CAFD) opened at 15.02 on Thursday. 8point3 Energy Partners has a 52-week low of $12.04 and a 52-week high of $15.69. The company has a 50-day moving average of $14.64 and a 200-day moving average of $14.64.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Tuesday, October 3rd will be given a $0.2721 dividend. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.26. This represents a $1.09 dividend on an annualized basis and a yield of 7.25%. The ex-dividend date of this dividend is Monday, October 2nd.

CAFD has been the topic of several research analyst reports. Zacks Investment Research cut shares of 8point3 Energy Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 31st. Credit Suisse Group decreased their target price on shares of 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating on the stock in a research report on Tuesday, July 4th. Vetr cut shares of 8point3 Energy Partners from a “hold” rating to a “sell” rating and set a $14.49 target price on the stock. in a research report on Monday, July 3rd. Robert W. Baird restated a “buy” rating and set a $16.00 target price on shares of 8point3 Energy Partners in a research report on Tuesday, September 12th. Finally, BidaskClub cut shares of 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $13.73.

An institutional investor recently raised its position in 8point3 Energy Partners stock. Vanguard Group Inc. boosted its position in shares of 8point3 Energy Partners LP (NASDAQ:CAFD) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,041 shares of the energy company’s stock after purchasing an additional 5,664 shares during the period. Vanguard Group Inc. owned approximately 0.44% of 8point3 Energy Partners worth $1,862,000 at the end of the most recent quarter. 19.66% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: This news story was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/05/8point3-energy-partners-lp-cafd-announces-quarterly-earnings-results.html.

8point3 Energy Partners Company Profile

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.

Earnings History for 8point3 Energy Partners (NASDAQ:CAFD)

Receive News & Stock Ratings for 8point3 Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8point3 Energy Partners LP and related stocks with our FREE daily email newsletter.