8point3 Energy Partners LP (NASDAQ:CAFD) was upgraded by analysts at TheStreet from a “d” rating to a “b-” rating in a note issued to investors on Wednesday.

Several other equities research analysts have also issued reports on the stock. Vetr raised shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $13.81 price objective for the company in a research report on Tuesday, May 16th. Credit Suisse Group lowered their price target on shares of 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating for the company in a report on Tuesday, July 4th. Zacks Investment Research lowered shares of 8point3 Energy Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 13th. FBR & Co lowered shares of 8point3 Energy Partners from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $15.00 to $13.00 in a report on Tuesday, April 11th. Finally, Barclays PLC lowered shares of 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $15.01 to $14.00 in a report on Tuesday, June 27th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. 8point3 Energy Partners currently has an average rating of “Hold” and a consensus target price of $15.20.

Shares of 8point3 Energy Partners (CAFD) opened at 14.09 on Wednesday. The company has a market cap of $395.66 million, a price-to-earnings ratio of 55.04 and a beta of 0.83. 8point3 Energy Partners has a 12-month low of $11.51 and a 12-month high of $16.21. The firm has a 50 day moving average price of $14.63 and a 200-day moving average price of $13.51.

8point3 Energy Partners (NASDAQ:CAFD) last released its quarterly earnings data on Thursday, June 29th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by $0.03. 8point3 Energy Partners had a return on equity of 1.94% and a net margin of 23.87%. The business had revenue of $16.68 million during the quarter, compared to analyst estimates of $15.52 million. On average, equities analysts expect that 8point3 Energy Partners will post $0.85 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Avenir Corp bought a new position in shares of 8point3 Energy Partners during the first quarter valued at $1,090,000. Victory Capital Management Inc. raised its position in shares of 8point3 Energy Partners by 89.3% in the first quarter. Victory Capital Management Inc. now owns 45,423 shares of the energy company’s stock valued at $616,000 after buying an additional 21,434 shares in the last quarter. Clinton Group Inc. raised its position in shares of 8point3 Energy Partners by 10.2% in the first quarter. Clinton Group Inc. now owns 38,206 shares of the energy company’s stock valued at $518,000 after buying an additional 3,548 shares in the last quarter. Evergreen Capital Management LLC raised its position in shares of 8point3 Energy Partners by 104.5% in the first quarter. Evergreen Capital Management LLC now owns 565,790 shares of the energy company’s stock valued at $7,678,000 after buying an additional 289,086 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of 8point3 Energy Partners by 28.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 76,832 shares of the energy company’s stock valued at $1,043,000 after buying an additional 16,999 shares in the last quarter. 55.31% of the stock is owned by institutional investors.

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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