Bank of America Corporation set a $16.00 price target on 8point3 Energy Partners LP (NASDAQ:CAFD) in a research note released on Thursday, Marketbeat reports. The brokerage currently has a hold rating on the energy company’s stock.
CAFD has been the topic of a number of other reports. Vetr lowered 8point3 Energy Partners from a hold rating to a sell rating and set a $13.33 price objective on the stock. in a research note on Thursday, June 8th. Credit Suisse Group cut their price objective on 8point3 Energy Partners from $12.00 to $11.00 and set a sell rating on the stock in a research note on Tuesday, July 4th. Robert W. Baird reaffirmed a buy rating and issued a $16.00 price objective on shares of 8point3 Energy Partners in a research note on Tuesday, September 12th. Zacks Investment Research lowered 8point3 Energy Partners from a hold rating to a sell rating in a research note on Thursday, August 31st. Finally, Guggenheim lowered 8point3 Energy Partners from a buy rating to a neutral rating and set a $14.00 price objective on the stock. in a research note on Wednesday, June 14th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. 8point3 Energy Partners has a consensus rating of Hold and a consensus price target of $14.09.
Shares of 8point3 Energy Partners (NASDAQ:CAFD) opened at 14.86 on Thursday. 8point3 Energy Partners has a 52 week low of $11.51 and a 52 week high of $15.69.
8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings data on Wednesday, October 4th. The energy company reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.38). The company had revenue of $27.74 million during the quarter, compared to analyst estimates of $25.85 million. 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%. Analysts anticipate that 8point3 Energy Partners will post $0.61 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd will be paid a $0.2721 dividend. The ex-dividend date is Monday, October 2nd. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a yield of 7.32%.
Institutional investors and hedge funds have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. increased its holdings 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 valued at $142,000 after acquiring an additional 1,200 shares in the last quarter. Global X Management Co. LLC increased its holdings 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 valued at $147,000 after acquiring an additional 761 shares in the last quarter. Cornerstone Advisors Inc. increased its holdings 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 valued at $152,000 after acquiring an additional 3,325 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of 8point3 Energy Partners during the second quarter valued at approximately $165,000. Finally, Credit Suisse AG increased its holdings in shares of 8point3 Energy Partners by 19.3% during the first quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock valued at $182,000 after acquiring an additional 2,168 shares in the last quarter. 19.66% of the stock is currently owned by hedge funds and other 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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