8point3 Energy Partners LP (NASDAQ:CAFD) received a $19.00 price target from investment analysts at JPMorgan Chase & Co. in a research report issued on Tuesday. The brokerage currently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 23.54% from the company’s current price.

Several other research firms also recently issued reports on CAFD. Zacks Investment Research raised 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Tuesday, June 7th. Deutsche Bank AG reaffirmed a “buy” rating and set a $18.00 price objective on shares of 8point3 Energy Partners in a report on Wednesday. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Mizuho reduced their price objective on 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. Finally, Wells Fargo & Co. started coverage on 8point3 Energy Partners in a report on Wednesday, June 1st. They set an “outperform” rating on the stock. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $18.43.

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

8point3 Energy Partners (NASDAQ:CAFD) opened at 15.38 on Tuesday. The stock has a market cap of $307.82 million, a P/E ratio of 15.06 and a beta of 1.24. The stock’s 50 day moving average price is $15.74 and its 200-day moving average price is $15.33. 8point3 Energy Partners has a one year low of $10.26 and a one year high of $17.34.

8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings data on Tuesday, September 20th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.38. 8point3 Energy Partners had a return on equity of 1.67% and a net margin of 138.38%. The firm had revenue of $26.10 million for the quarter. On average, analysts predict that 8point3 Energy Partners will post $0.85 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be given a $0.2406 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 6.26%. This is a boost from 8point3 Energy Partners’s previous quarterly dividend of $0.23.

Several hedge funds have recently added to or reduced their stakes in the stock. Neumeier Poma Investment Counsel LLC boosted its stake in 8point3 Energy Partners by 1.4% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 92,750 shares of the company’s stock worth $1,363,000 after buying an additional 1,250 shares in the last quarter. BlackRock Fund Advisors boosted its stake in 8point3 Energy Partners by 84.5% in the first quarter. BlackRock Fund Advisors now owns 6,937 shares of the company’s stock worth $102,000 after buying an additional 3,178 shares in the last quarter. Baird Financial Group Inc. boosted its stake in 8point3 Energy Partners by 1.5% in the second quarter. Baird Financial Group Inc. now owns 226,399 shares of the company’s stock worth $3,568,000 after buying an additional 3,262 shares in the last quarter. BlackRock Group LTD boosted its stake in 8point3 Energy Partners by 110.7% in the second quarter. BlackRock Group LTD now owns 6,368 shares of the company’s stock worth $101,000 after buying an additional 3,346 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in 8point3 Energy Partners by 45.4% in the second quarter. Raymond James & Associates now owns 25,272 shares of the company’s stock worth $399,000 after buying an additional 7,890 shares in the last quarter. Institutional investors and hedge funds own 68.78% of the company’s stock.

8point3 Energy Partners Company Profile

8point3 Energy Partners LP (8point3 Partners) is a limited partnership formed by First Solar and SunPower to own, operate and acquire solar energy generation projects. The Company’s portfolio includes utility projects, and commercial and industrial (C&I) projects. Its utility projects include MarylandSolar project, a 100% owned project located in Maryland; Solar Gen 2 project, a 49% owned project located in California; Lost Hills / Blackwell project, a 49% owned project located in California; North Star project, a 49% owned project located in California; RPU project, a 100% owned project located in California, and Quinto project, a 100% owned project located in California.

5 Day Chart for NASDAQ:CAFD

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