Zacks Investment Research upgraded shares of 8point3 Energy Partners LP (NASDAQ:CAFD) from a hold rating to a strong-buy rating in a report issued on Thursday. Zacks Investment Research currently has $18.00 price objective on the stock.

According to Zacks, “8point3 Energy Partners LP owns, operates and acquires solar energy generation projects primarily in the United States. It serves residential, commercial and industrial customers. 8point3 Energy Partners LP is based in San Jose. “

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

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. set a $19.00 target price on 8point3 Energy Partners and gave the stock a buy rating in a research note on Tuesday. Robert W. Baird set a $20.00 target price on 8point3 Energy Partners and gave the stock a buy rating in a research note on Wednesday. Deutsche Bank AG reaffirmed a buy rating and issued a $18.00 target price on shares of 8point3 Energy Partners in a research note on Wednesday. Oppenheimer Holdings Inc. reiterated a buy rating on shares of 8point3 Energy Partners in a research report on Thursday, June 30th. Finally, Mizuho lowered 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. Two equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $18.50.

Shares of 8point3 Energy Partners (NASDAQ:CAFD) opened at 15.21 on Thursday. 8point3 Energy Partners has a 52-week low of $10.26 and a 52-week high of $17.34. The company has a 50-day moving average of $15.70 and a 200 day moving average of $15.33. The firm has a market cap of $304.47 million, a P/E ratio of 7.24 and a beta of 1.24.

8point3 Energy Partners (NASDAQ:CAFD) last issued its earnings results on Tuesday, September 20th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The business 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 expect that 8point3 Energy Partners will post $0.94 earnings per share for the current year.

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

A number of large investors have recently modified their holdings of CAFD. Quentec Asset Management LLC boosted its stake in shares of 8point3 Energy Partners by 12.6% in the first quarter. Quentec Asset Management LLC now owns 1,098,715 shares of the company’s stock valued at $16,152,000 after buying an additional 123,213 shares during the last quarter. Neumeier Poma Investment Counsel LLC boosted its stake 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 valued at $1,363,000 after buying an additional 1,250 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of 8point3 Energy Partners during the first quarter valued at $157,000. BlackRock Fund Advisors boosted 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 valued at $102,000 after buying an additional 3,178 shares during the last quarter. Finally, TPH Asset Management LLC boosted its stake in shares of 8point3 Energy Partners by 94.2% in the first quarter. TPH Asset Management LLC now owns 40,361 shares of the company’s stock valued at $593,000 after buying an additional 19,576 shares during the last quarter. 68.78% of the stock is currently owned by institutional investors.

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.