8point3 Energy Partners LP (NASDAQ:CAFD) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Saturday.
A number of other brokerages have also issued reports on CAFD. Roth Capital set a $15.00 target price on shares of 8point3 Energy Partners and gave the company a “hold” rating in a research report on Saturday, July 1st. FBR & Co restated a “hold” rating on shares of 8point3 Energy Partners in a research report on Saturday, July 1st. Vetr lowered shares of 8point3 Energy Partners from a “hold” rating to a “sell” rating and set a $14.49 price objective for the company. in a research report on Monday, July 3rd. Barclays PLC lowered shares of 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $15.01 to $14.00 in a research report on Tuesday, June 27th. Finally, Oppenheimer Holdings, Inc. lowered shares of 8point3 Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. 8point3 Energy Partners currently has an average rating of “Hold” and an average target price of $15.20.
Shares of 8point3 Energy Partners (NASDAQ CAFD) opened at 14.47 on Friday. 8point3 Energy Partners has a 52 week low of $11.51 and a 52 week high of $17.06. The company has a market cap of $406.33 million, a PE ratio of 56.52 and a beta of 0.83.
8point3 Energy Partners (NASDAQ:CAFD) last announced its earnings results on Thursday, June 29th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.03. The company had revenue of $16.68 million during the quarter, compared to the consensus estimate of $15.52 million. 8point3 Energy Partners had a net margin of 23.87% and a return on equity of 1.94%. Analysts predict that 8point3 Energy Partners will post $0.85 EPS for the current year.
TRADEMARK VIOLATION WARNING: This news story was posted by StockNewsTimes and is the sole property of of StockNewsTimes. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://stocknewstimes.com/2017/08/07/bidaskclub-downgrades-8point3-energy-partners-lp-nasdaqcafd-to-hold.html.
A number of hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. raised its stake in 8point3 Energy Partners by 3.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,176 shares of the energy company’s stock worth $111,000 after buying an additional 269 shares in the last quarter. Global X Management Co. LLC raised its stake in 8point3 Energy Partners by 7.6% in 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. Cornerstone Advisors Inc. raised its stake in 8point3 Energy Partners by 49.3% in 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. Wealthsource Partners LLC raised its stake in 8point3 Energy Partners by 8.6% in 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. Finally, Credit Suisse AG raised its stake in 8point3 Energy Partners by 19.3% in the first quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock worth $182,000 after buying an additional 2,168 shares in the last quarter. 55.31% 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.
Receive News & Ratings for 8point3 Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8point3 Energy Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.
