8point3 Energy Partners LP (NASDAQ:CAFD)‘s stock had its “buy” rating reaffirmed by stock analysts at Deutsche Bank AG in a research note issued on Wednesday. They presently have a $18.00 price target on the stock. Deutsche Bank AG’s price target suggests a potential upside of 18.34% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Mizuho reduced their target price 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. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $19.00 target price on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. 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 report on Tuesday, June 7th. Finally, Wells Fargo & Co. initiated coverage on 8point3 Energy Partners in a research report on Wednesday, June 1st. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $18.50.

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

8point3 Energy Partners (NASDAQ:CAFD) opened at 15.21 on Wednesday. 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 $304.41 million, a price-to-earnings ratio of 14.90 and a beta of 1.24. The company has a 50-day moving average of $15.70 and a 200-day moving average of $15.33.

8point3 Energy Partners (NASDAQ:CAFD) last issued its earnings results on Tuesday, September 20th. The company reported $0.38 EPS for the quarter, hitting the consensus estimate of $0.38. The firm 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%. Analysts predict that 8point3 Energy Partners will post $0.94 EPS for the current year.

The firm 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 $0.2406 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.33%.

Several hedge funds have recently made changes to their positions in the stock. BlackRock Group LTD raised 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 during the last quarter. BlackRock Fund Advisors raised 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 during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of 8point3 Energy Partners during the first quarter worth approximately $148,000. Bessemer Group Inc. purchased a new stake in shares of 8point3 Energy Partners during the first quarter worth approximately $157,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of 8point3 Energy Partners during the first quarter worth approximately $190,000. Institutional investors own 68.78% of the company’s stock.

About 8point3 Energy Partners

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

Receive News & Ratings for 8point3 Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8point3 Energy Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.