8Point3 Energy Partners (CAFD) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of 8Point3 Energy Partners (NASDAQ:CAFD) from a hold rating to a buy rating in a research note released on Thursday, January 4th.

A number of other equities research analysts have also recently issued reports on CAFD. B. Riley restated a neutral rating on shares of 8Point3 Energy Partners in a report on Wednesday, November 1st. Goldman Sachs Group lowered shares of 8Point3 Energy Partners from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a research report on Tuesday, October 17th. Oppenheimer reaffirmed a hold rating on shares of 8Point3 Energy Partners in a research report on Thursday, October 5th. Roth Capital set a $15.00 price objective on shares of 8Point3 Energy Partners and gave the company a hold rating in a research report on Wednesday, October 4th. Finally, FBR & Co reaffirmed a neutral rating and set a $15.00 price objective (up previously from $14.00) on shares of 8Point3 Energy Partners in a research report on Wednesday, October 4th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has given a buy rating to the company’s stock. 8Point3 Energy Partners has a consensus rating of Hold and an average price target of $14.09.

8Point3 Energy Partners (CAFD) traded down $0.09 during mid-day trading on Thursday, reaching $15.28. 119,000 shares of the company’s stock were exchanged, compared to its average volume of 191,856. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.26 and a quick ratio of 3.26. 8Point3 Energy Partners has a one year low of $11.51 and a one year high of $15.92. The company has a market capitalization of $1,210.00 and a PE ratio of 35.53.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd were issued a dividend of $0.2802 per share. This is a positive change from 8Point3 Energy Partners’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, December 29th. This represents a $1.12 annualized dividend and a dividend yield of 7.34%. 8Point3 Energy Partners’s dividend payout ratio (DPR) is presently 260.47%.

Several hedge funds and other institutional investors have recently bought and sold shares of CAFD. Beach Investment Management LLC. increased its holdings in shares of 8Point3 Energy Partners by 1,123.7% during the second quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock worth $17,700,000 after buying an additional 1,074,277 shares in the last quarter. Quentec Asset Management LLC increased its holdings in shares of 8Point3 Energy Partners by 15.1% during the third quarter. Quentec Asset Management LLC now owns 2,263,160 shares of the energy company’s stock worth $34,015,000 after buying an additional 297,702 shares in the last quarter. Boston Common Asset Management LLC increased its holdings in shares of 8Point3 Energy Partners by 36.3% during the second quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock worth $5,602,000 after buying an additional 98,595 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of 8Point3 Energy Partners by 102.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 155,754 shares of the energy company’s stock worth $2,357,000 after buying an additional 78,922 shares in the last quarter. Finally, Wealthsource Partners LLC increased its holdings in shares of 8Point3 Energy Partners by 217.2% during the second quarter. Wealthsource Partners LLC now owns 40,125 shares of the energy company’s stock worth $607,000 after buying an additional 27,475 shares in the last quarter. 18.05% of the stock is owned by institutional investors.

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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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