8point3 Energy Partners LP (CAFD) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of 8point3 Energy Partners LP (NASDAQ:CAFD) from a sell rating to a hold rating in a research note released on Monday.

According to Zacks, “8point3 Energy Partners LP owns, operates and acquires solar energy generation projects primarily in the United States. It serves residential, commercial and industrial customers. 8point3 Energy Partners LP is based in San Jose. “

Several other brokerages also recently issued reports on CAFD. Vetr downgraded 8point3 Energy Partners from a hold rating to a sell rating and set a $14.49 price target for the company. in a report on Monday, July 3rd. FBR & Co restated a hold rating on shares of 8point3 Energy Partners in a report on Saturday, July 1st. Roth Capital set a $15.00 price target on 8point3 Energy Partners and gave the stock a hold rating in a report on Saturday, July 1st. Barclays PLC downgraded 8point3 Energy Partners from an overweight rating to an equal weight rating and lowered their price target for the stock from $15.01 to $14.00 in a report on Tuesday, June 27th. Finally, Janney Montgomery Scott lowered their price target on 8point3 Energy Partners from $20.00 to $13.50 and set a hold rating for the company in a report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $14.93.

Shares of 8point3 Energy Partners (CAFD) traded up 0.55% during midday trading on Monday, reaching $14.53. The company’s stock had a trading volume of 13,220 shares. 8point3 Energy Partners has a 12 month low of $12.04 and a 12 month high of $15.74. The company has a market cap of $408.02 million, a price-to-earnings ratio of 56.76 and a beta of 0.83. The stock has a 50-day moving average of $14.44 and a 200 day moving average of $13.67.

8point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings results on Thursday, June 29th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.03). 8point3 Energy Partners had a return on equity of 1.94% and a net margin of 23.87%. The business had revenue of $16.68 million during the quarter, compared to the consensus estimate of $15.52 million. On average, analysts predict that 8point3 Energy Partners will post $0.85 earnings per share for the current fiscal year.

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Hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its position in shares of 8point3 Energy Partners by 14.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock worth $142,000 after buying an additional 1,200 shares during the period. Global X Management Co. LLC boosted its position in shares of 8point3 Energy Partners by 7.6% during the first quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock worth $147,000 after buying an additional 761 shares during the period. Cornerstone Advisors Inc. boosted its position in shares of 8point3 Energy Partners by 49.3% during the second quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock worth $152,000 after buying an additional 3,325 shares during the period. Bayesian Capital Management LP acquired a new position in shares of 8point3 Energy Partners during the second quarter worth about $165,000. Finally, Wealthsource Partners LLC boosted its position in shares of 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 buying an additional 1,000 shares during the period. 56.33% of the stock is owned by 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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Analyst Recommendations for 8point3 Energy Partners (NASDAQ:CAFD)

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