8point3 Energy Partners LP (NASDAQ:CAFD) – Analysts at Oppenheimer Holdings decreased their Q4 2017 earnings estimates for shares of 8point3 Energy Partners in a report issued on Thursday. Oppenheimer Holdings analyst C. Rusch now expects that the energy company will earn ($0.03) per share for the quarter, down from their previous estimate of $0.03. Oppenheimer Holdings currently has a “Hold” rating on the stock.
8point3 Energy Partners (NASDAQ:CAFD) last announced its earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.38). The company had revenue of $27.74 million for the quarter, compared to the consensus estimate 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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CAFD has been the subject of a number of other reports. Credit Suisse Group decreased their price target on 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating for the company in a research note on Tuesday, July 4th. Robert W. Baird reiterated a “buy” rating and set a $16.00 target price on shares of 8point3 Energy Partners in a research note on Tuesday, September 12th. Zacks Investment Research downgraded 8point3 Energy Partners from a “hold” rating to a “sell” rating in a research note on Thursday, August 31st. Guggenheim downgraded 8point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $14.00 target price for the company. in a research note on Wednesday, June 14th. Finally, Janney Montgomery Scott reduced their target price on 8point3 Energy Partners from $20.00 to $13.50 and set a “hold” rating for the company in a research note on Tuesday, July 4th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. 8point3 Energy Partners currently has an average rating of “Hold” and a consensus target price of $14.09.
Shares of 8point3 Energy Partners (NASDAQ CAFD) opened at 15.13 on Monday. 8point3 Energy Partners has a 12 month low of $12.04 and a 12 month high of $15.69. The company has a market cap of $424.87 million, a PE ratio of 59.10 and a beta of 0.85. The firm’s 50-day moving average price is $14.69 and its 200-day moving average price is $14.69.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Tuesday, October 3rd will be paid a dividend of $0.2721 per share. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.26. This represents a $1.09 annualized dividend and a dividend yield of 7.19%. The ex-dividend date of this dividend is Monday, October 2nd.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. boosted its stake in 8point3 Energy Partners by 14.7% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock valued at $142,000 after purchasing an additional 1,200 shares during the period. Cornerstone Advisors Inc. boosted its stake in 8point3 Energy Partners by 49.3% in the 2nd 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. Global X Management Co. LLC boosted its stake in 8point3 Energy Partners by 7.6% in the 1st quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock valued at $147,000 after purchasing an additional 761 shares during the period. Bayesian Capital Management LP bought a new stake in 8point3 Energy Partners in the 2nd quarter valued at $165,000. Finally, Credit Suisse AG boosted its stake in 8point3 Energy Partners by 19.3% in the 1st quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock valued at $182,000 after purchasing an additional 2,168 shares during the period. Institutional investors and hedge funds own 19.66% 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.
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