8point3 Energy Partners LP (CAFD) Sees Strong Trading Volume
Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) saw unusually-strong trading volume on Wednesday . Approximately 363,214 shares were traded during trading, an increase of 139% from the previous session’s volume of 152,106 shares.The stock last traded at $15.37 and had previously closed at $16.47.
Several equities research analysts have recently commented on CAFD shares. Guggenheim started coverage on shares of 8point3 Energy Partners in a research report on Tuesday, April 12th. They set a “neutral” rating for the company. Zacks Investment Research raised shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, June 7th. Wells Fargo & Co. started coverage on shares of 8point3 Energy Partners in a research report on Wednesday, June 1st. They set an “outperform” rating for the company. Mizuho decreased their target price on shares of 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, May 31st. Finally, Raymond James Financial Inc. reissued a “strong-buy” rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.43.
The company has a market cap of $314.62 million and a PE ratio of 15.40. The firm’s 50-day moving average price is $16.08 and its 200-day moving average price is $15.29.
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, topping the consensus estimate of ($0.01) by $0.51. The business earned $13.50 million during the quarter, compared to the consensus estimate of $11.60 million. On average, equities analysts anticipate that 8point3 Energy Partners LP will post $0.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Tuesday, July 5th were given a $0.2325 dividend. This represents a $0.93 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend was Thursday, June 30th. This is a boost from 8point3 Energy Partners’s previous quarterly dividend of $0.22.
In other 8point3 Energy Partners news, insider Charles D. Boynton purchased 1,714 shares of 8point3 Energy Partners stock in a transaction that occurred on Wednesday, May 18th. The shares were bought 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 Securities & Exchange Commission, which is accessible through this hyperlink.
An institutional investor recently raised its position in 8point3 Energy Partners stock. Kayne Anderson Capital Advisors LP raised its stake in 8point3 Energy Partners LP (NASDAQ:CAFD) by 127.5% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 314,000 shares of the company’s stock after buying an additional 176,000 shares during the period. Kayne Anderson Capital Advisors LP owned about 1.57% of 8point3 Energy Partners worth $5,063,000 at the end of the most recent reporting period.
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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