Robert W. Baird restated their buy rating on shares of 8point3 Energy Partners LP (NASDAQ:CAFD) in a research report sent to investors on Friday morning. The brokerage currently has a $16.00 price objective on the energy company’s stock.

Several other research analysts also recently issued reports on the company. Zacks Investment Research downgraded 8point3 Energy Partners from a hold rating to a sell rating in a research note on Tuesday. Goldman Sachs Group Inc downgraded 8point3 Energy Partners from a buy rating to a neutral rating and set a $16.00 price target for the company. in a research note on Tuesday. Roth Capital set a $15.00 price target on 8point3 Energy Partners and gave the stock a hold rating in a research note on Wednesday, October 4th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of 8point3 Energy Partners in a research note on Thursday, October 5th. Finally, Bank of America Corporation set a $16.00 price target on 8point3 Energy Partners and gave the stock a hold rating in a research note on Thursday, October 5th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $14.25.

8point3 Energy Partners (NASDAQ:CAFD) traded up 0.39% during midday trading on Friday, hitting $15.51. 94,149 shares of the stock were exchanged. The stock has a market cap of $435.54 million, a P/E ratio of 60.59 and a beta of 0.85. The firm has a 50-day moving average price of $14.81 and a 200-day moving average price of $14.03. 8point3 Energy Partners has a one year low of $11.51 and a one year high of $15.79.

8point3 Energy Partners (NASDAQ:CAFD) last released its quarterly earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.38). The firm 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 research analysts anticipate that 8point3 Energy Partners will post $0.53 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Tuesday, October 3rd were given a dividend of $0.2721 per share. This represents a $1.09 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date was Monday, October 2nd. This is a boost from 8point3 Energy Partners’s previous quarterly dividend of $0.26.

A number of institutional investors have recently bought and sold shares of CAFD. Parametric Portfolio Associates LLC purchased a new stake in 8point3 Energy Partners during the 1st quarter worth about $441,000. Victory Capital Management Inc. increased its position in 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 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 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 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. Hedge funds and other institutional investors own 19.66% of the company’s stock.

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.

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

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