8point3 Energy Partners LP (CAFD) Shares Up 2.3%
8point3 Energy Partners LP (NASDAQ:CAFD) shares shot up 2.3% during mid-day trading on Monday . The stock traded as high as $16.10 and last traded at $16.10, with a volume of 170,060 shares. The stock had previously closed at $15.74.
Several brokerages have issued reports on CAFD. JPMorgan Chase & Co. upgraded shares of 8point3 Energy Partners from a “neutral” rating to an “overweight” rating in a report on Monday, July 11th. Barclays PLC upgraded shares of 8point3 Energy Partners from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $14.00 to $18.00 in a report on Monday, July 11th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Raymond James Financial Inc. reiterated a “strong-buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Finally, Zacks Investment Research upgraded shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, June 7th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. 8point3 Energy Partners presently has an average rating of “Buy” and an average price target of $18.43.
The company has a market capitalization of $328.43 million and a PE ratio of 16.07. The company’s 50-day moving average is $15.11 and its 200 day moving average is $15.17.
8point3 Energy Partners (NASDAQ:CAFD) last announced its earnings results on Wednesday, June 29th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.51. The company had revenue of $13.50 million for the quarter, compared to analysts’ expectations of $11.60 million. On average, equities research analysts anticipate that 8point3 Energy Partners LP will post $0.93 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Tuesday, July 5th were issued a dividend of $0.2325 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $0.93 annualized dividend and a dividend yield of 5.67%. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.22.
In other 8point3 Energy Partners news, insider Charles D. Boynton acquired 1,714 shares of the stock in a transaction on Wednesday, May 18th. The stock was purchased at an average price of $14.61 per share, for a total transaction of $25,041.54. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link.
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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