8point3 Energy Partners LP (NASDAQ:CAFD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

Several other brokerages have also recently issued reports on CAFD. Bank of America Corporation assumed coverage on 8point3 Energy Partners in a report on Tuesday, October 24th. They set an “underperform” rating and a $12.00 price objective for the company. Goldman Sachs Group, Inc. (The) cut 8point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a report on Tuesday, October 17th. Robert W. Baird reaffirmed a “buy” rating and set a $16.00 price objective on shares of 8point3 Energy Partners in a report on Friday, October 20th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of 8point3 Energy Partners in a report on Thursday, October 5th. Finally, FBR & Co reaffirmed a “neutral” rating and set a $15.00 price objective (up from $14.00) on shares of 8point3 Energy Partners in a report on Wednesday, October 4th. Six analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.92.

8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings data on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.38). The firm had revenue of $27.74 million for the quarter, compared to analyst estimates of $25.85 million. 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%.

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Large investors have recently made changes to their positions in the company. WFG Advisors LP grew its position in shares of 8point3 Energy Partners by 14.5% in the second quarter. WFG Advisors LP now owns 148,075 shares of the energy company’s stock valued at $2,240,000 after purchasing an additional 18,782 shares during the period. Wealthsource Partners LLC grew its position in shares of 8point3 Energy Partners by 217.2% in the second quarter. Wealthsource Partners LLC now owns 40,125 shares of the energy company’s stock valued at $607,000 after purchasing an additional 27,475 shares during the period. Parametric Portfolio Associates LLC purchased a new stake in shares of 8point3 Energy Partners in the first quarter valued at $441,000. Cornerstone Advisors Inc. grew its position in shares of 8point3 Energy Partners by 49.3% in the second quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock valued at $152,000 after purchasing an additional 3,325 shares during the period. Finally, Quentec Asset Management LLC grew its position in shares of 8point3 Energy Partners by 12.6% in the second quarter. Quentec Asset Management LLC now owns 1,965,458 shares of the energy company’s stock valued at $29,737,000 after purchasing an additional 220,700 shares during the period. 19.93% of the stock is owned by institutional investors and hedge funds.

8point3 Energy Partners Company Profile

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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