8point3 Energy Partners LP (NASDAQ:CAFD)‘s stock had its “buy” rating reiterated by research analysts at Robert W. Baird in a research report issued on Tuesday. They currently have a $16.00 price objective on the energy company’s stock. Robert W. Baird’s target price points to a potential upside of 11.42% from the company’s previous close.
Other equities research analysts also recently issued research reports about the company. TheStreet upgraded 8point3 Energy Partners from a “d” rating to a “b-” rating in a report on Wednesday, August 9th. Vetr upgraded 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $13.81 price objective for the company in a report on Tuesday, May 16th. BidaskClub downgraded 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Barclays PLC downgraded 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $15.01 to $14.00 in a report on Tuesday, June 27th. Finally, FBR & Co reiterated a “hold” rating on shares of 8point3 Energy Partners in a report on Saturday, July 1st. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $14.93.
Shares of 8point3 Energy Partners (NASDAQ CAFD) traded down 1.64% on Tuesday, hitting $14.36. The stock had a trading volume of 159,164 shares. 8point3 Energy Partners has a 52 week low of $12.04 and a 52 week high of $15.74. The firm has a 50 day moving average price of $14.60 and a 200-day moving average price of $13.33. The company has a market cap of $403.24 million, a price-to-earnings ratio of 56.09 and a beta of 0.83.
8point3 Energy Partners (NASDAQ:CAFD) last issued 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 net margin of 23.87% and a return on equity of 1.94%. The firm had revenue of $16.68 million for the quarter, compared to analyst estimates of $15.52 million. Analysts anticipate that 8point3 Energy Partners will post $0.85 EPS for the current year.
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Institutional investors have recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. increased its holdings in shares of 8point3 Energy Partners by 14.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock worth $142,000 after acquiring an additional 1,200 shares in the last quarter. Cornerstone Advisors Inc. grew 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 worth $152,000 after buying an additional 3,325 shares in the last quarter. Global X Management Co. LLC grew 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 worth $147,000 after buying an additional 761 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of 8point3 Energy Partners during the second quarter worth about $165,000. Finally, Wealthsource Partners LLC grew its holdings 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 in the last quarter. Institutional investors own 56.33% of the company’s stock.
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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