8point3 Energy Partners LP (NASDAQ:CAFD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, October 17th.
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 equities analysts also recently commented on CAFD. Vetr downgraded 8point3 Energy Partners from a “hold” rating to a “sell” rating and set a $13.49 target price for the company. in a research report on Wednesday, June 21st. Barclays PLC downgraded 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $15.01 to $14.00 in a research report on Tuesday, June 27th. Roth Capital set a $15.00 price objective on 8point3 Energy Partners and gave the stock a “hold” rating in a research report on Saturday, July 1st. FBR & Co restated a “hold” rating on shares of 8point3 Energy Partners in a research report on Saturday, July 1st. Finally, Bank of America Corporation downgraded 8point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Tuesday, July 4th. Five 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. 8point3 Energy Partners has an average rating of “Hold” and an average price target of $13.92.
8point3 Energy Partners (NASDAQ:CAFD) traded up 0.33% during trading on Tuesday, hitting $15.17. 40,832 shares of the stock traded hands. The stock has a market cap of $425.99 million, a P/E ratio of 59.26 and a beta of 0.85. The firm’s 50-day moving average is $14.88 and its 200 day moving average is $14.10. 8point3 Energy Partners has a 52 week low of $11.51 and a 52 week high of $15.79.
8point3 Energy Partners (NASDAQ:CAFD) last released its earnings results 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 company 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%. Equities research analysts forecast that 8point3 Energy Partners will post $0.53 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in CAFD. Parametric Portfolio Associates LLC bought a new stake in shares of 8point3 Energy Partners during the 1st quarter valued at $441,000. Victory Capital Management Inc. raised its stake in shares of 8point3 Energy Partners by 89.3% during the 1st quarter. Victory Capital Management Inc. now owns 45,423 shares of the energy company’s stock valued at $616,000 after purchasing an additional 21,434 shares during the period. Global X Management Co. LLC raised its stake in shares of 8point3 Energy Partners by 7.6% during 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. UBS Group AG raised its stake in shares of 8point3 Energy Partners by 16.6% during the 1st quarter. UBS Group AG now owns 18,438 shares of the energy company’s stock valued at $250,000 after purchasing an additional 2,630 shares during the period. Finally, Bank of America Corp DE grew its position in 8point3 Energy Partners by 63.7% during the first quarter. Bank of America Corp DE now owns 69,403 shares of the energy company’s stock worth $942,000 after buying an additional 26,997 shares in the last quarter. Institutional investors own 19.93% 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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