8point3 Energy Partners LP (CAFD) Trading Down 2.4%
Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) were down 2.4% on Thursday . The stock traded as low as $15.59 and last traded at $15.61, with a volume of 75,638 shares changing hands. The stock had previously closed at $16.00.
A number of equities analysts recently commented on the company. Janney Montgomery Scott lifted their price target on 8point3 Energy Partners from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, April 7th. Raymond James Financial Inc. decreased their price target on 8point3 Energy Partners from $22.00 to $20.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 7th. Roth Capital reiterated a “buy” rating and issued a $18.00 price target on shares of 8point3 Energy Partners in a research note on Thursday, April 7th. Robert W. Baird reiterated an “outperform” rating and issued a $20.00 price target on shares of 8point3 Energy Partners in a research note on Thursday, April 7th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $18.00 price target on shares of 8point3 Energy Partners in a research note on Thursday, April 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $18.33.
The firm’s 50 day moving average price is $14.93 and its 200-day moving average price is $15.16. The firm has a market cap of $317.42 million and a P/E ratio of 15.53.
8point3 Energy Partners (NASDAQ:CAFD) last announced its quarterly earnings data on Wednesday, June 29th. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.51. The company had revenue of $13.50 million for the quarter, compared to analyst estimates of $11.60 million. Equities analysts forecast that 8point3 Energy Partners LP will post $0.99 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Tuesday, July 5th will be given a dividend of $0.2325 per share. This represents a $0.93 dividend on an annualized basis and a dividend yield of 5.86%. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, June 30th.
In related news, insider Charles D. Boynton acquired 1,714 shares of the business’s stock in a transaction dated Wednesday, May 18th. The stock was acquired at an average price of $14.61 per share, with a total value of $25,041.54. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
An institutional investor recently bought a new position in 8point3 Energy Partners stock. Oceanic Investment Management LTD acquired a new position in shares of 8point3 Energy Partners LP (NASDAQ:CAFD) during the fourth quarter, Holdings Channel reports. The firm acquired 1,671,622 shares of the company’s stock, valued at approximately $26,980,000. 8point3 Energy Partners makes up approximately 4.9% of Oceanic Investment Management LTD’s holdings, making the stock its 7th largest position. Oceanic Investment Management LTD owned about 8.36% of 8point3 Energy Partners as of its most recent filing with the SEC.
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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