Goldman Sachs Group, Inc. (The) Downgrades 8point3 Energy Partners LP (CAFD) to Neutral

Goldman Sachs Group, Inc. (The) downgraded shares of 8point3 Energy Partners LP (NASDAQ:CAFD) from a buy rating to a neutral rating in a research report report published on Tuesday, October 17th, MarketBeat.com reports. The brokerage currently has $16.00 price objective on the energy company’s stock.

Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of 8point3 Energy Partners from a hold rating to a sell rating in a research note on Thursday, August 31st. Credit Suisse Group cut 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 note on Tuesday, July 4th. Vetr downgraded shares of 8point3 Energy Partners from a hold rating to a sell rating and set a $14.49 price objective on the stock. in a report on Monday, July 3rd. Robert W. Baird restated a buy rating and set a $16.00 price objective on shares of 8point3 Energy Partners in a report on Tuesday, September 12th. Finally, BidaskClub downgraded shares of 8point3 Energy Partners from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Six equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $13.92.

Shares of 8point3 Energy Partners (NASDAQ:CAFD) traded down $0.10 during midday trading on Tuesday, reaching $15.26. 55,964 shares of the company traded hands, compared to its average volume of 137,883. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.26 and a current ratio of 3.26.

8point3 Energy Partners (NASDAQ:CAFD) last issued its earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.38). The company 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%. analysts predict that 8point3 Energy Partners will post 0.53 EPS for the current year.

WARNING: “Goldman Sachs Group, Inc. (The) Downgrades 8point3 Energy Partners LP (CAFD) to Neutral” was originally posted by BBNS and is the sole property of of BBNS. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://baseballnewssource.com/markets/8point3-energy-partners-lp-cafd-cut-to-neutral-at-goldman-sachs-group-inc-the/1720905.html.

The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Tuesday, October 3rd were issued a $0.2721 dividend. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.09 annualized dividend and a dividend yield of 7.13%. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.26.

Several hedge funds have recently made changes to their positions in the company. Quentec Asset Management LLC raised its holdings in shares of 8point3 Energy Partners by 12.6% in the second 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 during the last quarter. Beach Investment Management LLC. raised its holdings in shares of 8point3 Energy Partners by 1,123.7% in the second quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock valued at $17,700,000 after purchasing an additional 1,074,277 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of 8point3 Energy Partners by 1.8% in the second quarter. Ameriprise Financial Inc. now owns 732,630 shares of the energy company’s stock valued at $11,085,000 after purchasing an additional 13,000 shares during the last quarter. Boston Common Asset Management LLC raised its holdings in shares of 8point3 Energy Partners by 36.3% in the second quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock valued at $5,602,000 after purchasing an additional 98,595 shares during the last quarter. Finally, Trillium Asset Management LLC raised its holdings in shares of 8point3 Energy Partners by 1.1% in the third quarter. Trillium Asset Management LLC now owns 365,273 shares of the energy company’s stock valued at $5,490,000 after purchasing an additional 3,882 shares during the last quarter. Institutional investors own 19.17% 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 & 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 companies with our FREE daily email newsletter.

 


Latest News

Toronto Blue Jays Launch Internal Investigation on PED Use
Toronto Blue Jays Launch Internal Investigation on PED Use
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player


Leave a Reply

 
© 2006-2017 BBNS.