BidaskClub cut shares of 8point3 Energy Partners LP (NASDAQ:CAFD) from a buy rating to a hold rating in a report published on Saturday morning.

Other analysts have also issued reports about the stock. Guggenheim lowered shares of 8point3 Energy Partners from a buy rating to a neutral rating and set a $14.00 target price on the stock. in a research report on Wednesday, June 14th. Roth Capital set a $15.00 target price on shares of 8point3 Energy Partners and gave the company a hold rating in a research report on Saturday, July 1st. FBR & Co reiterated a hold rating on shares of 8point3 Energy Partners in a research report on Saturday, July 1st. Janney Montgomery Scott decreased their target price on shares of 8point3 Energy Partners from $20.00 to $13.50 and set a hold rating on the stock in a research report on Tuesday, July 4th. Finally, Vetr lowered shares of 8point3 Energy Partners from a hold rating to a sell rating and set a $13.33 target price on the stock. in a research report on Thursday, June 8th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. 8point3 Energy Partners currently has an average rating of Hold and a consensus target price of $15.20.

8point3 Energy Partners (NASDAQ CAFD) opened at 14.41 on Friday. 8point3 Energy Partners has a 12 month low of $11.51 and a 12 month high of $16.89. The company has a market cap of $404.65 million, a PE ratio of 56.29 and a beta of 0.83. The stock’s 50 day moving average is $14.57 and its 200 day moving average is $13.51.

8point3 Energy Partners (NASDAQ:CAFD) last issued its earnings results on Thursday, June 29th. The energy company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.03. 8point3 Energy Partners had a net margin of 23.87% and a return on equity of 1.94%. The business had revenue of $16.68 million for the quarter, compared to analyst estimates of $15.52 million. Equities analysts predict that 8point3 Energy Partners will post $0.85 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, July 6th were given a $0.2642 dividend. The ex-dividend date was Monday, July 3rd. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.26. This represents a $1.06 dividend on an annualized basis and a yield of 7.33%.

Institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. raised its position in 8point3 Energy Partners by 3.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,176 shares of the energy company’s stock worth $111,000 after buying an additional 269 shares during the period. Global X Management Co. LLC raised its position in 8point3 Energy Partners by 7.6% in the first quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock worth $147,000 after buying an additional 761 shares during the period. Cornerstone Advisors Inc. raised its position in 8point3 Energy Partners by 49.3% in the second quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock worth $152,000 after buying an additional 3,325 shares during the period. Wealthsource Partners LLC raised its position in 8point3 Energy Partners by 8.6% in the first quarter. Wealthsource Partners LLC now owns 12,650 shares of the energy company’s stock worth $172,000 after buying an additional 1,000 shares during the period. Finally, Credit Suisse AG raised its position in 8point3 Energy Partners by 19.3% in the first quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock worth $182,000 after buying an additional 2,168 shares during the period. Hedge funds and other institutional investors own 55.31% of the company’s stock.

About 8point3 Energy Partners

8point3 Energy Partners LP owns, operates and acquires solar energy generation projects. As of November 30, 2016, Company’s portfolio comprised interests in 642 Megawatt (MW) of solar energy projects. The Company is developing projects under utility, commercial and industrial (C&I) and residential categories.

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

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