8point3 Energy Partners LP (NASDAQ:CAFD) issued its quarterly earnings results on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.38. The firm earned $26.10 million during the quarter. 8point3 Energy Partners had a return on equity of 1.67% and a net margin of 138.38%.

Shares of 8point3 Energy Partners (NASDAQ:CAFD) opened at 15.38 on Thursday. 8point3 Energy Partners has a 12 month low of $10.26 and a 12 month high of $17.34. The company has a market cap of $307.82 million, a P/E ratio of 15.06 and a beta of 1.24. The firm has a 50-day moving average price of $15.74 and a 200 day moving average price of $15.33.

Earnings History for 8point3 Energy Partners (NASDAQ:CAFD)

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a $0.2406 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.96 annualized dividend and a yield of 6.26%. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.23.

CAFD has been the subject of a number of research analyst reports. Zacks Investment Research upgraded 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Tuesday, June 7th. Deutsche Bank AG reiterated a “buy” rating and set a $18.00 price target on shares of 8point3 Energy Partners in a research report on Wednesday. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Mizuho dropped their price target 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. Finally, JPMorgan Chase & Co. set a $19.00 price target on 8point3 Energy Partners and gave the company a “buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.43.

Institutional investors have recently modified their holdings of the company. BlackRock Group LTD raised its position in shares of 8point3 Energy Partners by 110.7% in the second quarter. BlackRock Group LTD now owns 6,368 shares of the company’s stock valued at $101,000 after buying an additional 3,346 shares during the last quarter. Raymond James & Associates raised its position in shares of 8point3 Energy Partners by 45.4% in the second quarter. Raymond James & Associates now owns 25,272 shares of the company’s stock valued at $399,000 after buying an additional 7,890 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of 8point3 Energy Partners by 134.1% in the second quarter. Janney Montgomery Scott LLC now owns 105,520 shares of the company’s stock valued at $1,668,000 after buying an additional 60,452 shares during the last quarter. Baird Financial Group Inc. raised its position in shares of 8point3 Energy Partners by 1.5% in the second quarter. Baird Financial Group Inc. now owns 226,399 shares of the company’s stock valued at $3,568,000 after buying an additional 3,262 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of 8point3 Energy Partners by 8.9% in the second quarter. Guggenheim Capital LLC now owns 711,863 shares of the company’s stock valued at $11,247,000 after buying an additional 58,460 shares during the last quarter. 68.78% of the stock is currently owned by institutional investors.

8point3 Energy Partners Company Profile

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.

5 Day Chart for NASDAQ:CAFD

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