BidaskClub Lowers 8Point3 Energy Partners (NASDAQ:CAFD) to Sell

BidaskClub downgraded shares of 8Point3 Energy Partners (NASDAQ:CAFD) from a hold rating to a sell rating in a research report sent to investors on Wednesday, December 6th.

CAFD has been the topic of several other reports. Zacks Investment Research raised 8Point3 Energy Partners from a sell rating to a hold rating in a research report on Monday, September 11th. Bank of America assumed coverage on 8Point3 Energy Partners in a research report on Tuesday, October 24th. They issued an underperform rating and a $12.00 target price on the stock. Robert W. Baird reaffirmed a buy rating and issued a $16.00 target price on shares of 8Point3 Energy Partners in a research report on Friday, October 20th. Roth Capital set a $15.00 target price on 8Point3 Energy Partners and gave the stock a hold rating in a research report on Saturday, November 25th. Finally, Goldman Sachs Group lowered 8Point3 Energy Partners from a buy rating to a neutral rating and set a $16.00 target price on the stock. in a research report on Tuesday, October 17th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and an average price target of $14.09.

8Point3 Energy Partners (NASDAQ CAFD) traded up $0.24 during mid-day trading on Wednesday, hitting $15.21. The company had a trading volume of 139,752 shares, compared to its average volume of 150,010. The company has a current ratio of 3.26, a quick ratio of 3.26 and a debt-to-equity ratio of 0.83. 8Point3 Energy Partners has a twelve month low of $11.51 and a twelve month high of $15.79.

8Point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 net margin of 23.13% and a return on equity of 1.87%. sell-side analysts expect that 8Point3 Energy Partners will post 0.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.2802 per share. The ex-dividend date of this dividend is Friday, December 29th. This represents a $1.12 annualized dividend and a yield of 7.37%. This is a boost from 8Point3 Energy Partners’s previous quarterly dividend of $0.27.

A number of hedge funds have recently made changes to their positions in CAFD. Beach Investment Management LLC. boosted its stake in 8Point3 Energy Partners by 1,123.7% during the second quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock valued at $17,700,000 after buying an additional 1,074,277 shares in the last quarter. Quentec Asset Management LLC boosted its position in shares of 8Point3 Energy Partners by 15.1% in the 3rd quarter. Quentec Asset Management LLC now owns 2,263,160 shares of the energy company’s stock valued at $34,015,000 after purchasing an additional 297,702 shares during the period. Boston Common Asset Management LLC boosted its position in shares of 8Point3 Energy Partners by 36.3% in the 2nd quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock valued at $5,602,000 after purchasing an additional 98,595 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of 8Point3 Energy Partners by 102.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 155,754 shares of the energy company’s stock valued at $2,357,000 after purchasing an additional 78,922 shares during the period. Finally, Wealthsource Partners LLC boosted its position in shares of 8Point3 Energy Partners by 217.2% in the 2nd 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. 18.05% of the stock is owned by institutional investors and hedge funds.

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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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