8Point3 Energy Partners LP (NASDAQ:CAFD) Increases Dividend to $0.28 Per Share

8Point3 Energy Partners LP (NASDAQ:CAFD) declared a quarterly dividend on Thursday, December 21st, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be given a dividend of 0.2802 per share by the energy company on Friday, January 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date of this dividend is Friday, December 29th. This is an increase from 8Point3 Energy Partners’s previous quarterly dividend of $0.27.

8Point3 Energy Partners (NASDAQ:CAFD) opened at $15.37 on Friday. 8Point3 Energy Partners has a one year low of $11.51 and a one year high of $15.92. The company has a quick ratio of 3.26, a current ratio of 3.26 and a debt-to-equity ratio of 0.83. The stock has a market cap of $1,210.00 and a P/E ratio of 35.74.

A hedge fund recently raised its stake in 8Point3 Energy Partners stock. Vanguard Group Inc. boosted its holdings in shares of 8Point3 Energy Partners LP (NASDAQ:CAFD) by 4.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 123,041 shares of the energy company’s stock after acquiring an additional 5,664 shares during the period. Vanguard Group Inc. owned 0.44% of 8Point3 Energy Partners worth $1,862,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 18.05% of the company’s stock.

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of 8Point3 Energy Partners from an “overweight” rating to a “neutral” rating in a research note on Tuesday. Bank of America assumed coverage on shares of 8Point3 Energy Partners in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $12.00 target price for the company. BidaskClub raised shares of 8Point3 Energy Partners from a “hold” rating to a “buy” rating in a report on Thursday, January 4th. Goldman Sachs Group lowered shares of 8Point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $16.00 price target for the company. in a report on Tuesday, October 17th. Finally, Zacks Investment Research lowered shares of 8Point3 Energy Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Five investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.09.

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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.

Dividend History for 8Point3 Energy Partners (NASDAQ:CAFD)

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