Janney Montgomery Scott Downgrades 8Point3 Energy Partners LP (CAFD) to Hold

Janney Montgomery Scott downgraded shares of 8Point3 Energy Partners LP (NASDAQ:CAFD) from a buy rating to a hold rating in a research report released on Thursday. Janney Montgomery Scott currently has $13.50 price objective on the energy company’s stock, down from their prior price objective of $20.00.

Several other equities analysts also recently weighed in on the company. Avondale Partners downgraded 8Point3 Energy Partners from a market perform rating to an underperform rating in a research report on Friday, January 27th. Guggenheim raised 8Point3 Energy Partners from a neutral rating to a buy rating and set a $16.00 target price for the company in a research report on Thursday, January 12th. TheStreet raised 8Point3 Energy Partners from a d+ rating to a c- rating in a research report on Thursday, January 26th. Roth Capital downgraded 8Point3 Energy Partners from a buy rating to a neutral rating and lifted their target price for the company from $15.00 to $18.00 in a research report on Friday, January 27th. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $20.00 target price on shares of 8Point3 Energy Partners in a research report on Monday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. 8Point3 Energy Partners presently has an average rating of Hold and a consensus price target of $15.87.

8Point3 Energy Partners (NASDAQ:CAFD) traded up 0.41% during mid-day trading on Thursday, reaching $12.18. 282,034 shares of the company’s stock were exchanged. The company’s 50-day moving average is $12.72 and its 200 day moving average is $13.44. 8Point3 Energy Partners has a one year low of $11.51 and a one year high of $17.34. The firm has a market capitalization of $341.97 million, a P/E ratio of 14.98 and a beta of 0.91.



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

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The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Tuesday, April 4th were paid a dividend of $0.2565 per share. This is a boost from 8Point3 Energy Partners’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 31st. This represents a $1.03 annualized dividend and a yield of 8.42%.

Large investors have recently bought and sold shares of the company. Analytic Investors LLC purchased a new stake in shares of 8Point3 Energy Partners during the third quarter worth $206,000. Quentec Asset Management LLC boosted 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 worth $18,826,000 after buying an additional 225,213 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of 8Point3 Energy Partners during the third quarter worth $401,000. Monashee Investment Management LLC purchased a new stake in shares of 8Point3 Energy Partners during the third quarter worth $2,414,000. Finally, Boston Common Asset Management LLC boosted its stake in shares of 8Point3 Energy Partners by 22.2% in the third quarter. Boston Common Asset Management LLC now owns 410,374 shares of the energy company’s stock worth $5,909,000 after buying an additional 74,509 shares in the last quarter. Hedge funds and other institutional investors own 62.03% 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.

5 Day Chart for NASDAQ:CAFD

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