Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) dropped 2.4% on Thursday . The company traded as low as $15.59 and last traded at $15.61, with a volume of 75,638 shares. The stock had previously closed at $16.00.

CAFD has been the topic of a number of research reports. Janney Montgomery Scott increased their price objective on shares of 8point3 Energy Partners from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, April 7th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of 8point3 Energy Partners in a research note on Thursday, June 30th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $19.00 price objective on shares of 8point3 Energy Partners in a research note on Thursday, June 30th. Roth Capital reiterated a “buy” rating and issued a $18.00 price objective on shares of 8point3 Energy Partners in a research note on Thursday, April 7th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $18.00 price objective on shares of 8point3 Energy Partners in a research note on Thursday, April 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $18.33.

The company has a market cap of $316.42 million and a price-to-earnings ratio of 15.48. The stock’s 50 day moving average is $14.99 and its 200 day moving average is $15.16.

8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings results on Wednesday, June 29th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.51. The firm had revenue of $13.50 million for the quarter, compared to analyst estimates of $11.60 million. Equities research analysts forecast that 8point3 Energy Partners LP will post $0.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, July 5th will be given a dividend of $0.2325 per share. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $0.93 annualized dividend and a dividend yield of 5.88%. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.22.

In related news, insider Charles D. Boynton acquired 1,714 shares of 8point3 Energy Partners stock in a transaction dated Wednesday, May 18th. The stock was acquired at an average price of $14.61 per share, for a total transaction of $25,041.54. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

An institutional investor recently bought a new position in 8point3 Energy Partners stock. Oceanic Investment Management LTD acquired a new stake in 8point3 Energy Partners LP (NASDAQ:CAFD) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,671,622 shares of the company’s stock, valued at approximately $26,980,000. 8point3 Energy Partners makes up about 4.9% of Oceanic Investment Management LTD’s portfolio, making the stock its 7th largest position. Oceanic Investment Management LTD owned about 8.36% of 8point3 Energy Partners at the end of the most recent quarter.

8point3 Energy Partners LP (8point3 Partners) is a limited partnership formed by First Solar and SunPower to own, operate and acquire solar energy generation projects. The Company’s portfolio includes utility projects, and commercial and industrial (C&I) projects. Its utility projects include MarylandSolar project, a 100% owned project located in Maryland; Solar Gen 2 project, a 49% owned project located in California; Lost Hills / Blackwell project, a 49% owned project located in California; North Star project, a 49% owned project located in California; RPU project, a 100% owned project located in California, and Quinto project, a 100% owned project located in California.

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