BidaskClub upgraded shares of 8point3 Energy Partners LP (NASDAQ:CAFD) from a hold rating to a buy rating in a research report released on Wednesday morning.
A number of other research firms also recently weighed in on CAFD. TheStreet upgraded shares of 8point3 Energy Partners from a d rating to a b- rating in a report on Wednesday, August 9th. Vetr upgraded shares of 8point3 Energy Partners from a sell rating to a hold rating and set a $14.49 target price on the stock in a report on Tuesday, June 27th. ValuEngine downgraded shares of 8point3 Energy Partners from a buy rating to a hold rating in a report on Friday, June 2nd. Barclays PLC downgraded shares of 8point3 Energy Partners from an overweight rating to an equal weight rating and reduced their target price for the stock from $15.01 to $14.00 in a report on Tuesday, June 27th. Finally, Oppenheimer Holdings, Inc. downgraded shares of 8point3 Energy Partners from an outperform rating to a market perform rating in a report on Tuesday, July 4th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $15.20.
8point3 Energy Partners (CAFD) opened at 14.83 on Wednesday. The firm’s 50-day moving average price is $14.52 and its 200-day moving average price is $13.54. 8point3 Energy Partners has a 1-year low of $11.51 and a 1-year high of $15.98. The company has a market cap of $416.44 million, a price-to-earnings ratio of 57.93 and a beta of 0.83.
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 analysts’ consensus estimates 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%. Equities research analysts forecast that 8point3 Energy Partners will post $0.85 EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in the company. WFG Advisors LP raised its position in 8point3 Energy Partners by 14.5% in the second quarter. WFG Advisors LP now owns 148,075 shares of the energy company’s stock valued at $2,240,000 after buying an additional 18,782 shares during the period. Wealthsource Partners LLC raised its position in 8point3 Energy Partners by 217.2% in the second quarter. Wealthsource Partners LLC now owns 40,125 shares of the energy company’s stock valued at $607,000 after buying an additional 27,475 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in 8point3 Energy Partners by 102.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 155,754 shares of the energy company’s stock valued at $2,357,000 after buying an additional 78,922 shares during the period. Boston Common Asset Management LLC raised its position in 8point3 Energy Partners by 36.3% in the second quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock valued at $5,602,000 after buying an additional 98,595 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in 8point3 Energy Partners during the second quarter valued at approximately $250,000. 54.67% of the stock is 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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