8point3 Energy Partners LP (CAFD) to Release Quarterly Earnings on Wednesday
8point3 Energy Partners LP (NASDAQ:CAFD) is scheduled to announce its earnings results after the market closes on Wednesday, October 4th. Analysts expect the company to announce earnings of $0.58 per share for the quarter.
Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) opened at 14.90 on Tuesday. The company’s 50-day moving average price is $14.60 and its 200 day moving average price is $14.60. 8point3 Energy Partners LP has a 12-month low of $12.04 and a 12-month high of $15.69. The company has a market cap of $418.41 million, a price-to-earnings ratio of 22.92 and a beta of 0.84.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd will be paid a $0.2721 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 7.30%. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, October 2nd.
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A hedge fund recently raised its stake in 8point3 Energy Partners stock. Vanguard Group Inc. increased its holdings in 8point3 Energy Partners LP (NASDAQ:CAFD) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,041 shares of the energy company’s stock after acquiring an additional 5,664 shares during the period. Vanguard Group Inc. owned about 0.44% of 8point3 Energy Partners worth $1,862,000 at the end of the most recent quarter. Institutional investors own 19.66% of the company’s stock.
Several equities research analysts have recently commented on CAFD shares. FBR & Co reissued a “hold” rating on shares of 8point3 Energy Partners in a research report on Saturday, July 1st. Roth Capital set a $15.00 price target on shares of 8point3 Energy Partners and gave the company a “hold” rating in a research report on Saturday, July 1st. BidaskClub raised shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. Janney Montgomery Scott cut their price target 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. Finally, TheStreet upgraded 8point3 Energy Partners from a “d” rating to a “b-” rating in a research note on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $13.83.
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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