FBR & Co restated their neutral rating on shares of 8point3 Energy Partners LP (NASDAQ:CAFD) in a research report sent to investors on Wednesday, MarketBeat reports. FBR & Co currently has a $15.00 target price on the energy company’s stock, up from their previous target price of $14.00.

Several other research firms have also recently commented on CAFD. Zacks Investment Research upgraded shares of 8point3 Energy Partners from a sell rating to a hold rating in a research note on Monday, September 11th. BidaskClub cut shares of 8point3 Energy Partners from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Credit Suisse Group reduced their target price on shares of 8point3 Energy Partners from $12.00 to $11.00 and set a sell rating for the company in a research note on Tuesday, July 4th. Vetr upgraded shares of 8point3 Energy Partners from a sell rating to a hold rating and set a $14.49 target price for the company in a research note on Tuesday, June 27th. Finally, Robert W. Baird restated a buy rating and issued a $16.00 target price on shares of 8point3 Energy Partners in a research note on Tuesday, September 12th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $14.09.

8point3 Energy Partners (NASDAQ CAFD) opened at 14.86 on Wednesday. 8point3 Energy Partners has a one year low of $12.04 and a one year high of $15.69.

8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.38). The business had revenue of $27.74 million for the quarter, compared to analyst estimates of $25.85 million. 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%. On average, equities analysts expect that 8point3 Energy Partners will post $0.61 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Tuesday, October 3rd will be issued a $0.2721 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date of this dividend is Monday, October 2nd. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.26.

Institutional investors and hedge funds have recently made changes to their positions in the company. Parametric Portfolio Associates LLC purchased a new position in shares of 8point3 Energy Partners in the 1st quarter valued at about $441,000. Cornerstone Advisors Inc. increased its holdings in shares of 8point3 Energy Partners by 49.3% in the 2nd quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock valued at $152,000 after purchasing an additional 3,325 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of 8point3 Energy Partners by 89.3% in the 1st quarter. Victory Capital Management Inc. now owns 45,423 shares of the energy company’s stock valued at $616,000 after purchasing an additional 21,434 shares in the last quarter. Quentec Asset Management LLC increased its holdings in shares of 8point3 Energy Partners by 12.6% in the 2nd quarter. Quentec Asset Management LLC now owns 1,965,458 shares of the energy company’s stock valued at $29,737,000 after purchasing an additional 220,700 shares in the last quarter. Finally, Global X Management Co. LLC increased its holdings in shares of 8point3 Energy Partners by 67.2% in the 2nd quarter. Global X Management Co. LLC now owns 18,095 shares of the energy company’s stock valued at $274,000 after purchasing an additional 7,273 shares in the last quarter. Institutional investors and hedge funds own 19.66% of the company’s stock.

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.

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

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