8point3 Energy Partners LP (CAFD) Trading Down 2.1%
Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) were down 2.1% during mid-day trading on Thursday . The company traded as low as $15.17 and last traded at $15.24, with a volume of 60,679 shares. The stock had previously closed at $15.56.
A number of analysts have issued reports on CAFD shares. Zacks Investment Research raised 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Tuesday, June 7th. Wells Fargo & Co. started coverage on 8point3 Energy Partners in a research report on Wednesday, June 1st. They set an “outperform” rating for the company. Mizuho cut their price objective on 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. Raymond James Financial Inc. reissued a “strong-buy” rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $19.00 price objective on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $18.43.
The stock’s 50-day moving average is $16.24 and its 200 day moving average is $15.34. The company has a market capitalization of $311.42 million and a price-to-earnings ratio of 15.24.
8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.51. The company earned $13.50 million during the quarter, compared to analysts’ expectations of $11.60 million. On average, equities analysts expect that 8point3 Energy Partners LP will post $0.85 earnings per share for the current fiscal year.
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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