BidaskClub downgraded shares of 8point3 Energy Partners LP (NASDAQ:CAFD) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday.

Other equities research analysts have also recently issued reports about the stock. Barclays PLC reduced their price target on shares of 8point3 Energy Partners from $18.00 to $14.00 and set an overweight rating for the company in a research report on Thursday, April 6th. Guggenheim cut shares of 8point3 Energy Partners from a buy rating to a neutral rating and set a $14.00 price target for the company. in a research report on Wednesday, June 14th. 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. FBR & Co reissued a hold rating on shares of 8point3 Energy Partners in a research report on Saturday, July 1st. Finally, Janney Montgomery Scott reduced their price target on shares of 8point3 Energy Partners from $20.00 to $13.50 and set a hold rating for the company in a research report on Tuesday, July 4th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $15.20.

Shares of 8point3 Energy Partners (NASDAQ CAFD) traded up 2.15% during midday trading on Tuesday, reaching $14.72. The company’s stock had a trading volume of 470,872 shares. The company has a 50 day moving average of $14.43 and a 200-day moving average of $13.49. 8point3 Energy Partners has a 52 week low of $11.51 and a 52 week high of $17.23.

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

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The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, July 6th were paid a dividend of $0.2642 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 7.18%. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.26. The ex-dividend date was Monday, July 3rd.

Several hedge funds and other institutional investors have recently modified their holdings of CAFD. Icon Advisers Inc. Co. raised its position in shares of 8point3 Energy Partners by 54.7% in the first quarter. Icon Advisers Inc. Co. now owns 687,564 shares of the energy company’s stock worth $9,330,000 after buying an additional 243,200 shares during the period. 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 worth $7,678,000 after buying an additional 289,086 shares during the period. Trillium Asset Management LLC raised its position in shares of 8point3 Energy Partners by 3.5% in the first quarter. Trillium Asset Management LLC now owns 352,947 shares of the energy company’s stock worth $4,789,000 after buying an additional 12,043 shares during the period. Baird Financial Group Inc. raised its position in shares of 8point3 Energy Partners by 3.1% in the first quarter. Baird Financial Group Inc. now owns 339,554 shares of the energy company’s stock worth $4,608,000 after buying an additional 10,133 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of 8point3 Energy Partners by 131.5% in the fourth quarter. Renaissance Technologies LLC now owns 161,916 shares of the energy company’s stock worth $2,102,000 after buying an additional 91,971 shares during the period. Institutional investors and hedge funds own 55.77% 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.

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

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