8Point3 Energy Partners’ (CAFD) Market Perform Rating Reiterated at Oppenheimer Holdings Inc.

Oppenheimer Holdings Inc. reiterated their market perform rating on shares of 8Point3 Energy Partners LP (NASDAQ:CAFD) in a report published on Thursday, April 6th.

Several other research firms have also issued reports on CAFD. Vetr lowered shares of 8Point3 Energy Partners from a strong-buy rating to a buy rating and set a $14.74 price target on the stock. in a research report on Tuesday, March 28th. Guggenheim raised shares of 8Point3 Energy Partners from a neutral rating to a buy rating and set a $16.00 target price for the company in a research note on Thursday, January 12th. TheStreet raised shares of 8Point3 Energy Partners from a d+ rating to a c- rating in a research note on Thursday, January 26th. Williams Capital assumed coverage on shares of 8Point3 Energy Partners in a report on Thursday, February 9th. They set a hold rating and a $14.00 price objective for the company. Finally, Zacks Investment Research raised shares of 8Point3 Energy Partners from a strong sell rating to a hold rating and set a $15.00 price target on the stock in a research report on Tuesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $15.82.

Shares of 8Point3 Energy Partners (NASDAQ:CAFD) opened at 12.50 on Thursday. The firm’s 50-day moving average price is $12.62 and its 200-day moving average price is $13.31. 8Point3 Energy Partners has a 52-week low of $11.51 and a 52-week high of $17.34. The stock has a market capitalization of $350.95 million, a P/E ratio of 15.38 and a beta of 0.91.

8Point3 Energy Partners (NASDAQ:CAFD) last announced its earnings results on Wednesday, April 5th. The energy company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $9.90 million for the quarter, compared to analysts’ expectations of $9.64 million. Equities analysts forecast that 8Point3 Energy Partners will post $0.87 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Tuesday, April 4th were paid a $0.2565 dividend. The ex-dividend date of this dividend was Friday, March 31st. This is a positive change from 8Point3 Energy Partners’s previous quarterly dividend of $0.25. This represents a $1.03 dividend on an annualized basis and a yield of 8.21%.

A number of hedge funds have recently added to or reduced their stakes in CAFD. Analytic Investors LLC acquired a new stake in 8Point3 Energy Partners during the third quarter worth $206,000. Quentec Asset Management LLC increased its position in shares of 8Point3 Energy Partners by 20.8% in the third quarter. Quentec Asset Management LLC now owns 1,307,318 shares of the energy company’s stock worth $18,826,000 after buying an additional 225,213 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of 8Point3 Energy Partners during the third quarter worth approximately $401,000. Monashee Investment Management LLC purchased a new position in shares of 8Point3 Energy Partners during the third quarter worth approximately $2,414,000. Finally, Boston Common Asset Management LLC increased its position in shares of 8Point3 Energy Partners by 22.2% in the third quarter. Boston Common Asset Management LLC now owns 410,374 shares of the energy company’s stock worth $5,909,000 after buying an additional 74,509 shares in the last quarter. 62.03% of the stock is owned by institutional investors.

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.

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