8point3 Energy Partners LP (NASDAQ:CAFD) declared a quarterly dividend on Tuesday, September 20th. Investors of record on Monday, October 3rd will be given a dividend of 0.2406 per share on Friday, October 14th. This represents a $0.96 annualized dividend and a yield of 6.23%. The ex-dividend date is Thursday, September 29th. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.23.

CAFD has been the subject of several recent research reports. Zacks Investment Research raised 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research note on Tuesday, June 7th. Wells Fargo & Co. initiated coverage on 8point3 Energy Partners in a research note on Wednesday, June 1st. They issued an “outperform” rating for the company. Mizuho reduced their price objective on 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, May 31st. Raymond James Financial Inc. restated a “strong-buy” rating on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $19.00 target price on shares of 8point3 Energy Partners in a report on Thursday, June 30th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $18.43.

8point3 Energy Partners (NASDAQ:CAFD) opened at 15.45 on Wednesday. The stock has a market capitalization of $309.22 million, a PE ratio of 15.13 and a beta of 1.24. 8point3 Energy Partners has a 12-month low of $10.26 and a 12-month high of $17.34. The stock’s 50 day moving average price is $15.78 and its 200-day moving average price is $15.33.

8point3 Energy Partners (NASDAQ:CAFD) last issued 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. The firm earned $26.10 million during the quarter, compared to analysts’ expectations of $23.24 million. 8point3 Energy Partners had a return on equity of 1.67% and a net margin of 138.38%. Analysts expect that 8point3 Energy Partners will post $0.85 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of CAFD. BlackRock Group LTD boosted its position in shares of 8point3 Energy Partners by 110.7% in the second quarter. BlackRock Group LTD now owns 6,368 shares of the company’s stock valued at $101,000 after buying an additional 3,346 shares in the last quarter. Raymond James & Associates boosted its position in shares of 8point3 Energy Partners by 45.4% in the second quarter. Raymond James & Associates now owns 25,272 shares of the company’s stock valued at $399,000 after buying an additional 7,890 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of 8point3 Energy Partners by 134.1% in the second quarter. Janney Montgomery Scott LLC now owns 105,520 shares of the company’s stock valued at $1,668,000 after buying an additional 60,452 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of 8point3 Energy Partners by 1.5% in the second quarter. Baird Financial Group Inc. now owns 226,399 shares of the company’s stock valued at $3,568,000 after buying an additional 3,262 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of 8point3 Energy Partners by 8.9% in the second quarter. Guggenheim Capital LLC now owns 711,863 shares of the company’s stock valued at $11,247,000 after buying an additional 58,460 shares in the last quarter. 68.78% of the stock is owned by hedge funds and other institutional investors.

About 8point3 Energy Partners

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.

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