8point3 Energy Partners LP (NASDAQ:CAFD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “8point3 Energy Partners LP owns, operates and acquires solar energy generation projects primarily in the United States. It serves residential, commercial and industrial customers. 8point3 Energy Partners LP is based in San Jose. “

A number of other research firms also recently commented on CAFD. BidaskClub raised shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. TheStreet raised shares of 8point3 Energy Partners from a “d” rating to a “b-” rating in a report on Wednesday, August 9th. Vetr raised shares of 8point3 Energy Partners from a “sell” rating to a “hold” rating and set a $14.49 price objective for the company in a report on Tuesday, June 27th. FBR & Co reaffirmed a “neutral” rating and set a $15.00 price objective (up from $14.00) on shares of 8point3 Energy Partners in a report on Wednesday, October 4th. Finally, Barclays PLC downgraded shares of 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $15.01 to $14.00 in a report on Tuesday, June 27th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $14.09.

8point3 Energy Partners (CAFD) traded down 0.45% during midday trading on Tuesday, hitting $15.48. 206,710 shares of the stock traded hands. 8point3 Energy Partners has a 1-year low of $11.51 and a 1-year high of $15.79.

8point3 Energy Partners (NASDAQ:CAFD) last released its quarterly earnings data on Wednesday, October 4th. The energy company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.38). The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $25.85 million. 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%. On average, analysts anticipate that 8point3 Energy Partners will post $0.60 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This news story was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was stolen and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this news story can be read at https://www.thecerbatgem.com/2017/10/17/8point3-energy-partners-lp-cafd-downgraded-by-zacks-investment-research-to-sell.html.

Several institutional investors have recently made changes to their positions in CAFD. Parametric Portfolio Associates LLC acquired a new stake in shares of 8point3 Energy Partners during the 1st quarter worth about $441,000. Victory Capital Management Inc. increased its position in shares of 8point3 Energy Partners by 89.3% during the 1st quarter. Victory Capital Management Inc. now owns 45,423 shares of the energy company’s stock worth $616,000 after purchasing an additional 21,434 shares in the last quarter. Global X Management Co. LLC increased its position in shares of 8point3 Energy Partners by 7.6% during the 1st quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock worth $147,000 after purchasing an additional 761 shares in the last quarter. UBS Group AG increased its position in shares of 8point3 Energy Partners by 16.6% during the 1st quarter. UBS Group AG now owns 18,438 shares of the energy company’s stock worth $250,000 after purchasing an additional 2,630 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of 8point3 Energy Partners by 63.7% during the 1st quarter. Bank of America Corp DE now owns 69,403 shares of the energy company’s stock worth $942,000 after purchasing an additional 26,997 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)

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.