8point3 Energy Partners LP (NASDAQ:CAFD) was downgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a research report issued on Tuesday. They presently have a $16.00 price target on the energy company’s stock. Goldman Sachs Group, Inc. (The)’s price target points to a potential upside of 2.89% from the stock’s current price.

CAFD has been the topic of a number of other research reports. Vetr downgraded 8point3 Energy Partners from a “hold” rating to a “sell” rating and set a $13.49 price target on the stock. in a research report on Wednesday, June 21st. Barclays PLC downgraded 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $15.01 to $14.00 in a research report on Tuesday, June 27th. Roth Capital set a $15.00 price target on 8point3 Energy Partners and gave the stock 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, Bank of America Corporation downgraded 8point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $13.00 price target on the stock. in a research report on Tuesday, July 4th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $14.25.

8point3 Energy Partners (NASDAQ:CAFD) traded down 0.77% during mid-day trading on Tuesday, reaching $15.43. 7,229 shares of the company traded hands. The firm has a market capitalization of $433.29 million, a P/E ratio of 60.27 and a beta of 0.85. 8point3 Energy Partners has a 12-month low of $11.51 and a 12-month high of $15.79. The company’s 50 day moving average price is $14.75 and its 200 day moving average price is $14.00.

8point3 Energy Partners (NASDAQ:CAFD) last released its earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.38). 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%. The business had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $25.85 million. Equities research analysts predict that 8point3 Energy Partners will post $0.60 EPS for the current year.

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Hedge funds have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. boosted its position in 8point3 Energy Partners by 14.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock valued at $142,000 after purchasing an additional 1,200 shares in the last quarter. Global X Management Co. LLC boosted its position in 8point3 Energy Partners by 7.6% during the first quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock valued at $147,000 after purchasing an additional 761 shares in the last quarter. Cornerstone Advisors Inc. boosted its position in 8point3 Energy Partners by 49.3% during the second quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock valued at $152,000 after purchasing an additional 3,325 shares in the last quarter. Bayesian Capital Management LP bought a new stake in 8point3 Energy Partners during the second quarter valued at about $165,000. Finally, Credit Suisse AG boosted its position in 8point3 Energy Partners by 19.3% during the first quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock valued at $182,000 after purchasing an additional 2,168 shares in the last quarter. 19.66% of the stock is currently 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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