8point3 Energy Partners LP (NASDAQ:CAFD) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday, July 25th.
Several other research analysts also recently commented on the company. FBR & Co set a $14.00 price objective on 8point3 Energy Partners and gave the stock a “hold” rating in a report on Monday, July 10th. Oppenheimer Holdings, Inc. cut 8point3 Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 4th. Janney Montgomery Scott decreased their price objective 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. Credit Suisse Group cut their price target on 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating for the company in a research note on Tuesday, July 4th. Finally, Bank of America Corporation lowered 8point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. 8point3 Energy Partners presently has a consensus rating of “Hold” and an average target price of $15.20.
Shares of 8point3 Energy Partners (CAFD) opened at 14.47 on Tuesday. 8point3 Energy Partners has a 52-week low of $11.51 and a 52-week high of $17.23. The firm has a market capitalization of $406.33 million, a P/E ratio of 56.52 and a beta of 0.83.
8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings data 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 company had revenue of $16.68 million during the quarter, compared to the consensus estimate of $15.52 million. Equities analysts anticipate that 8point3 Energy Partners will post $0.85 EPS for the current year.
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Institutional investors have recently modified their holdings of the company. Evergreen Capital Management LLC boosted its position in 8point3 Energy Partners by 104.5% in the first quarter. Evergreen Capital Management LLC now owns 565,790 shares of the energy company’s stock valued at $7,678,000 after buying an additional 289,086 shares during the period. Icon Advisers Inc. Co. boosted its position in 8point3 Energy Partners by 54.7% in the first quarter. Icon Advisers Inc. Co. now owns 687,564 shares of the energy company’s stock valued at $9,330,000 after buying an additional 243,200 shares during the period. Renaissance Technologies LLC boosted its position 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 valued at $2,102,000 after buying an additional 91,971 shares during the period. Avenir Corp acquired a new position in 8point3 Energy Partners during the first quarter valued at about $1,090,000. Finally, Atlantic Trust LLC boosted its position in 8point3 Energy Partners by 553.7% in the first quarter. Atlantic Trust LLC now owns 87,241 shares of the energy company’s stock valued at $1,206,000 after buying an additional 73,895 shares during the period. Hedge funds and other institutional investors own 55.60% of the company’s stock.
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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