A number of other equities analysts have also weighed in on the stock. Vetr lowered shares of 8Point3 Energy Partners from a strong-buy rating to a buy rating and set a $14.74 price objective for the company. in a report on Tuesday, March 28th. Guggenheim upgraded shares of 8Point3 Energy Partners from a neutral rating to a buy rating and set a $16.00 price objective for the company in a report on Thursday, January 12th. TheStreet upgraded shares of 8Point3 Energy Partners from a d+ rating to a c- rating in a report on Thursday, January 26th. Williams Capital started coverage on shares of 8Point3 Energy Partners in a research note on Thursday, February 9th. They set a hold rating and a $14.00 target price for the company. Finally, Zacks Investment Research upgraded shares of 8Point3 Energy Partners from a strong sell rating to a hold rating and set a $15.00 target price for the company in a research note on Tuesday, January 3rd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. 8Point3 Energy Partners presently has an average rating of Hold and an average price target of $15.87.
8Point3 Energy Partners (NASDAQ:CAFD) traded up 0.66% during midday trading on Thursday, hitting $12.21. The stock had a trading volume of 179,269 shares. The company’s 50 day moving average price is $12.72 and its 200-day moving average price is $13.44. 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 $342.81 million, a price-to-earnings ratio of 15.02 and a beta of 0.91.
8Point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings results on Wednesday, April 5th. The energy company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.21. 8Point3 Energy Partners had a return on equity of 3.62% and a net margin of 44.30%. The firm had revenue of $9.90 million for the quarter, compared to analysts’ expectations of $9.64 million. Equities analysts anticipate that 8Point3 Energy Partners will post $0.87 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Tuesday, April 4th were issued a dividend of $0.2565 per share. This represents a $1.03 annualized dividend and a dividend yield of 8.46%. The ex-dividend date of this dividend was Friday, March 31st. This is a boost from 8Point3 Energy Partners’s previous quarterly dividend of $0.25.
Several hedge funds and other institutional investors have recently modified their holdings of the company. ICM Asset Management Inc. WA purchased a new position in 8Point3 Energy Partners during the fourth quarter worth $702,000. Guggenheim Capital LLC boosted its position in 8Point3 Energy Partners by 1.7% in the fourth quarter. Guggenheim Capital LLC now owns 686,595 shares of the energy company’s stock worth $8,912,000 after buying an additional 11,568 shares during the last quarter. Eventide Asset Management LLC boosted its position in 8Point3 Energy Partners by 6.2% in the fourth quarter. Eventide Asset Management LLC now owns 1,553,700 shares of the energy company’s stock worth $20,167,000 after buying an additional 91,200 shares during the last quarter. Renaissance Technologies LLC boosted its stake in 8Point3 Energy Partners by 131.5% in the fourth quarter. Renaissance Technologies LLC now owns 161,916 shares of the energy company’s stock worth $2,102,000 after buying an additional 91,971 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in 8Point3 Energy Partners by 15.2% in the fourth quarter. Baird Financial Group Inc. now owns 329,421 shares of the energy company’s stock worth $4,276,000 after buying an additional 43,511 shares in the last quarter. 62.03% 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.
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