8point3 Energy Partners LP (NASDAQ:CAFD) Earns “Buy” Rating from Robert W. Baird

8point3 Energy Partners LP (NASDAQ:CAFD)‘s stock had its “buy” rating restated by equities researchers at Robert W. Baird in a research note issued to investors on Tuesday, September 12th. They currently have a $16.00 price target on the energy company’s stock. Robert W. Baird’s target price would suggest a potential upside of 8.40% from the stock’s current price.

Other analysts also recently issued reports about the company. FBR & Co reaffirmed a “hold” rating on shares of 8point3 Energy Partners in a research report on Saturday, July 1st. Roth Capital set a $15.00 target price on 8point3 Energy Partners and gave the stock a “hold” rating in a research report on Saturday, July 1st. Guggenheim downgraded 8point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a research report on Wednesday, June 14th. TheStreet raised 8point3 Energy Partners from a “d” rating to a “b-” rating in a research report on Wednesday, August 9th. Finally, BidaskClub raised 8point3 Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $14.71.

Shares of 8point3 Energy Partners (NASDAQ CAFD) traded up 2.07% during midday trading on Tuesday, reaching $14.76. 169,401 shares of the company’s stock were exchanged. 8point3 Energy Partners has a 1-year low of $12.04 and a 1-year high of $15.74.

8point3 Energy Partners (NASDAQ:CAFD) last posted its earnings results on Thursday, June 29th. The energy company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.03). The company had revenue of $16.68 million during the quarter, compared to the consensus estimate of $15.52 million. 8point3 Energy Partners had a net margin of 23.87% and a return on equity of 1.94%. On average, equities research analysts anticipate that 8point3 Energy Partners will post $0.86 EPS for the current year.

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A number of hedge funds have recently modified their holdings of CAFD. Parametric Portfolio Associates LLC bought a new stake in 8point3 Energy Partners during the first quarter worth about $441,000. Wealthsource Partners LLC lifted its stake in 8point3 Energy Partners by 8.6% during the first quarter. Wealthsource Partners LLC now owns 12,650 shares of the energy company’s stock worth $172,000 after purchasing an additional 1,000 shares during the last quarter. Baird Financial Group Inc. lifted its stake in 8point3 Energy Partners by 3.1% during the first quarter. Baird Financial Group Inc. now owns 339,554 shares of the energy company’s stock worth $4,608,000 after purchasing an additional 10,133 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in 8point3 Energy Partners by 28.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 76,832 shares of the energy company’s stock worth $1,043,000 after purchasing an additional 16,999 shares during the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in 8point3 Energy Partners by 104.5% during the first quarter. Evergreen Capital Management LLC now owns 565,790 shares of the energy company’s stock worth $7,678,000 after purchasing an additional 289,086 shares during the last quarter. 55.35% of the stock is owned by hedge funds and other institutional investors.

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)

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