8Point3 Energy Partners LP (CAFD) Given Average Rating of “Hold” by Brokerages

8Point3 Energy Partners LP (NASDAQ:CAFD) has earned an average recommendation of “Hold” from the nineteen brokerages that are covering the company. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $15.56.

Several brokerages have issued reports on CAFD. Vetr lowered shares of 8Point3 Energy Partners from a “buy” rating to a “hold” rating and set a $13.81 price target on the stock. in a research note on Wednesday, May 10th. Barclays PLC lowered their price target on shares of 8Point3 Energy Partners from $18.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 6th. Zacks Investment Research lowered shares of 8Point3 Energy Partners from a “buy” rating to a “hold” rating in a research note on Monday, January 30th. FBR & Co lowered shares of 8Point3 Energy Partners from an “outperform” rating to a “mkt perform” rating and lowered their price target for the company from $15.00 to $13.00 in a research note on Thursday, April 6th. Finally, Williams Capital began coverage on shares of 8Point3 Energy Partners in a research note on Thursday, February 9th. They issued a “hold” rating and a $14.00 price target on the stock.

WARNING: This report was first published by sleekmoney and is owned by of sleekmoney. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://sleekmoney.com/8point3-energy-partners-lp-cafd-given-average-rating-of-hold-by-brokerages/1836215.html.

Hedge funds have recently made changes to their positions in the company. Eventide Asset Management LLC increased its stake in shares of 8Point3 Energy Partners by 6.2% in the fourth quarter. Eventide Asset Management LLC now owns 1,553,700 shares of the energy company’s stock valued at $20,167,000 after buying an additional 91,200 shares during the last quarter. Quentec Asset Management LLC increased its stake in shares of 8Point3 Energy Partners by 20.8% in the third quarter. Quentec Asset Management LLC now owns 1,307,318 shares of the energy company’s stock valued at $18,826,000 after buying an additional 225,213 shares during the last quarter. Icon Advisers Inc. Co. increased its stake 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 valued at $9,330,000 after buying an additional 243,200 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of 8Point3 Energy Partners by 1.7% in the fourth quarter. Guggenheim Capital LLC now owns 686,595 shares of the energy company’s stock valued at $8,912,000 after buying an additional 11,568 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its stake 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 during the last quarter. 62.03% of the stock is owned by institutional investors and hedge funds.

Shares of 8Point3 Energy Partners (NASDAQ:CAFD) traded up 0.69% during midday trading on Friday, reaching $13.17. 106,808 shares of the company were exchanged. 8Point3 Energy Partners has a 52-week low of $11.51 and a 52-week high of $17.34. The company has a market capitalization of $369.76 million, a P/E ratio of 16.20 and a beta of 0.91. The stock has a 50-day moving average price of $12.68 and a 200 day moving average price of $13.17.

8Point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings results on Wednesday, April 5th. The energy company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.21. 8Point3 Energy Partners had a net margin of 44.30% and a return on equity of 3.62%. The firm had revenue of $9.90 million for the quarter, compared to analyst estimates of $9.64 million. Equities research analysts expect that 8Point3 Energy Partners will post $0.87 EPS for the current fiscal year.

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.

5 Day Chart for NASDAQ:CAFD

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/8point3-energy-partners-lp-cafd-given-average-rating-of-hold-by-brokerages/1836215.html

Receive News & Ratings for 8Point3 Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 8Point3 Energy Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *