8point3 Energy Partners LP (CAFD) Shares Down 0.6%
8point3 Energy Partners LP (NASDAQ:CAFD) shares were down 0.6% during mid-day trading on Tuesday . The stock traded as low as $15.66 and last traded at $15.76, with a volume of 107,819 shares traded. The stock had previously closed at $15.85.
Several brokerages have recently weighed in on CAFD. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $19.00 target price on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Barclays PLC raised shares of 8point3 Energy Partners from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $14.00 to $18.00 in a report on Monday, July 11th. Mizuho lowered their target price on shares of 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Finally, Zacks Investment Research raised 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 company’s stock. The stock has an average rating of “Buy” and a consensus price target of $18.43.
The firm has a market capitalization of $313.82 million and a P/E ratio of 15.36. The stock has a 50-day moving average price of $16.26 and a 200 day moving average price of $15.30.
8point3 Energy Partners (NASDAQ:CAFD) last issued its earnings results on Wednesday, June 29th. The company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.51. The business had revenue of $13.50 million for the quarter, compared to analyst estimates of $11.60 million. On average, equities analysts expect that 8point3 Energy Partners LP will post $0.85 EPS for the current year.
A hedge fund recently raised its stake in 8point3 Energy Partners stock. Kayne Anderson Capital Advisors LP raised its position in 8point3 Energy Partners LP (NASDAQ:CAFD) by 127.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 314,000 shares of the company’s stock after buying an additional 176,000 shares during the period. Kayne Anderson Capital Advisors LP owned approximately 1.57% of 8point3 Energy Partners worth $5,063,000 at the end of the most recent reporting period.
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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