8point3 Energy Partners LP (CAFD) Sees Unusually-High Trading Volume
Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) saw unusually-high trading volume on Monday . Approximately 164,092 shares changed hands during mid-day trading, a decline of 9% from the previous session’s volume of 181,277 shares.The stock last traded at $15.88 and had previously closed at $15.81.
CAFD has been the topic of several recent analyst reports. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. JPMorgan Chase & Co. restated a “buy” rating and issued a $19.00 price target on shares of 8point3 Energy Partners in a research note on Thursday, June 30th. Janney Montgomery Scott raised their price target on shares of 8point3 Energy Partners from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Roth Capital restated a “buy” rating and issued a $18.00 price target on shares of 8point3 Energy Partners in a research note on Thursday, April 7th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $18.00 price target on shares of 8point3 Energy Partners in a research note on Thursday, April 7th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $18.60.
The stock has a 50-day moving average of $15.02 and a 200-day moving average of $15.15. The stock has a market capitalization of $315.42 million and a PE ratio of 15.44.
8point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings results on Wednesday, June 29th. The company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.51. The company had revenue of $13.50 million for the quarter, compared to the consensus estimate of $11.60 million. Equities research analysts forecast that 8point3 Energy Partners LP will post $0.99 earnings per share for the current year.
The business also recently declared 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. This represents a $0.93 annualized dividend and a dividend yield of 5.90%. The ex-dividend date is Thursday, June 30th. This is a boost from 8point3 Energy Partners’s previous quarterly dividend of $0.22.
In related news, insider Charles D. Boynton acquired 1,714 shares of the firm’s stock in a transaction that occurred on Wednesday, May 18th. The shares were bought at an average cost of $14.61 per share, for a total transaction of $25,041.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, 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, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,671,622 shares of the company’s stock, valued at approximately $26,980,000. 8point3 Energy Partners accounts for about 4.9% of Oceanic Investment Management LTD’s investment portfolio, making the stock its 7th largest position. Oceanic Investment Management LTD owned 8.36% of 8point3 Energy Partners as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.