8point3 Energy Partners LP (NASDAQ:CAFD) has been assigned a $20.00 price target by research analysts at Robert W. Baird in a research report issued to clients and investors on Wednesday. The brokerage currently has a a “buy” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 31.49% from the company’s previous close.

Several other research firms have also issued reports on CAFD. Barclays PLC upgraded 8point3 Energy Partners from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $14.00 to $18.00 in a report on Monday, July 11th. Deutsche Bank AG reiterated a “buy” rating and set a $18.00 target price on shares of 8point3 Energy Partners in a report on Wednesday. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. JPMorgan Chase & Co. upgraded 8point3 Energy Partners from a “neutral” rating to an “overweight” rating in a report on Monday, July 11th. Finally, Wells Fargo & Co. began coverage on 8point3 Energy Partners in a report on Wednesday, June 1st. They set an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.50.

Analyst Recommendations for 8point3 Energy Partners (NASDAQ:CAFD)

Shares of 8point3 Energy Partners (NASDAQ:CAFD) opened at 15.21 on Wednesday. The stock’s 50 day moving average price is $15.70 and its 200 day moving average price is $15.33. The firm has a market cap of $304.41 million, a price-to-earnings ratio of 14.90 and a beta of 1.24. 8point3 Energy Partners has a one year low of $10.26 and a one year high of $17.34.

8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.38 earnings per share for the quarter, hitting the consensus estimate of $0.38. The company earned $26.10 million during the quarter. 8point3 Energy Partners had a return on equity of 2.67% and a net margin of 87.76%. On average, equities analysts anticipate that 8point3 Energy Partners will post $0.94 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.2406 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.33%. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.23.

Several institutional investors have recently made changes to their positions in CAFD. Neumeier Poma Investment Counsel LLC raised its position in shares of 8point3 Energy Partners by 1.4% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 92,750 shares of the company’s stock worth $1,363,000 after buying an additional 1,250 shares during the period. BlackRock Fund Advisors increased its stake in shares of 8point3 Energy Partners by 84.5% in the first quarter. BlackRock Fund Advisors now owns 6,937 shares of the company’s stock worth $102,000 after buying an additional 3,178 shares in the last quarter. Baird Financial Group Inc. increased its stake 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 worth $3,568,000 after buying an additional 3,262 shares in the last quarter. BlackRock Group LTD increased its stake 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 worth $101,000 after buying an additional 3,346 shares in the last quarter. Finally, Raymond James & Associates increased its stake 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 worth $399,000 after buying an additional 7,890 shares in the last quarter. Institutional investors own 68.78% of the company’s stock.

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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