8Point3 Energy Partners LP (CAFD) Downgraded by Vetr Inc. to Hold

Vetr lowered shares of 8Point3 Energy Partners LP (NASDAQ:CAFD) from a buy rating to a hold rating in a report published on Monday morning. The brokerage currently has $13.66 price target on the energy company’s stock.

Other equities research analysts have also issued research reports about the stock. Barclays PLC reduced their price objective on shares of 8Point3 Energy Partners from $18.00 to $14.00 and set an overweight rating for the company in a research note on Thursday, April 6th. Oppenheimer Holdings Inc. reaffirmed a market perform rating on shares of 8Point3 Energy Partners in a research note on Thursday, April 6th. Janney Montgomery Scott lowered shares of 8Point3 Energy Partners from a buy rating to a hold rating and reduced their price objective for the company from $20.00 to $13.50 in a research note on Thursday, April 6th. Wells Fargo & Co lowered shares of 8Point3 Energy Partners from an outperform rating to a market perform rating in a research note on Thursday, April 6th. Finally, Bank of America Corp lowered shares of 8Point3 Energy Partners from a buy rating to a neutral rating and set a $13.00 price objective for the company. in a research note on Thursday, April 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $15.81.

Shares of 8Point3 Energy Partners (NASDAQ:CAFD) traded up 1.36% on Monday, hitting $13.39. The company’s stock had a trading volume of 71,336 shares. 8Point3 Energy Partners has a 52 week low of $11.51 and a 52 week high of $17.34. The company has a market cap of $375.94 million, a price-to-earnings ratio of 16.47 and a beta of 0.91. The stock’s 50 day moving average is $12.65 and its 200-day moving average is $13.12.

8Point3 Energy Partners (NASDAQ:CAFD) last released its quarterly earnings data on Wednesday, April 5th. The energy company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.21. 8Point3 Energy Partners had a net margin of 44.30% and a return on equity of 3.62%. The business had revenue of $9.90 million during the quarter, compared to analyst estimates of $9.64 million. On average, equities research analysts anticipate that 8Point3 Energy Partners will post $0.87 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of CAFD. Benjamin F. Edwards & Company Inc. increased its position in 8Point3 Energy Partners by 3.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,176 shares of the energy company’s stock valued at $111,000 after buying an additional 269 shares during the last quarter. Bessemer Group Inc. bought a new position in 8Point3 Energy Partners during the fourth quarter valued at about $140,000. Global X Management Co. LLC increased its position in 8Point3 Energy Partners by 7.6% in the first quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock valued at $147,000 after buying an additional 761 shares during the last quarter. Wealthsource Partners LLC increased its position in 8Point3 Energy Partners by 8.6% in the first quarter. Wealthsource Partners LLC now owns 12,650 shares of the energy company’s stock valued at $172,000 after buying an additional 1,000 shares during the last quarter. Finally, Credit Suisse AG increased its position in 8Point3 Energy Partners by 19.3% in the first quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock valued at $182,000 after buying an additional 2,168 shares during the last quarter. Institutional investors own 62.03% 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.

12 Month Chart for NASDAQ:CAFD

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