Q4 2017 EPS Estimates for 8point3 Energy Partners LP (CAFD) Reduced by Oppenheimer Holdings

8point3 Energy Partners LP (NASDAQ:CAFD) – Oppenheimer Holdings cut their Q4 2017 earnings estimates for 8point3 Energy Partners in a research report issued on Thursday. Oppenheimer Holdings analyst C. Rusch now forecasts that the energy company will post earnings of ($0.03) per share for the quarter, down from their prior forecast of $0.03. Oppenheimer Holdings has a “Hold” rating on the stock.

Other equities research analysts also recently issued research reports about the company. TheStreet upgraded 8point3 Energy Partners from a “d” rating to a “b-” rating in a report on Wednesday, August 9th. BidaskClub downgraded 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Robert W. Baird restated a “buy” rating and set a $16.00 price objective on shares of 8point3 Energy Partners in a report on Tuesday, September 12th. Barclays PLC downgraded 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.01 to $14.00 in a report on Tuesday, June 27th. Finally, FBR & Co restated a “hold” rating on shares of 8point3 Energy Partners in a report on Saturday, July 1st. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.09.

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Shares of 8point3 Energy Partners (NASDAQ:CAFD) opened at 14.82 on Monday. 8point3 Energy Partners has a 12 month low of $12.04 and a 12 month high of $15.69.

8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings data on Wednesday, October 4th. The energy company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.38). The firm had revenue of $27.74 million during the quarter, compared to the consensus estimate of $25.85 million. 8point3 Energy Partners had a net margin of 23.13% and a return on equity of 1.87%.

A number of institutional investors have recently made changes to their positions in the stock. Quentec Asset Management LLC grew its holdings in 8point3 Energy Partners by 12.6% during the second quarter. Quentec Asset Management LLC now owns 1,965,458 shares of the energy company’s stock worth $29,737,000 after buying an additional 220,700 shares in the last quarter. Beach Investment Management LLC. grew its holdings in 8point3 Energy Partners by 1,123.7% during the second quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock worth $17,700,000 after buying an additional 1,074,277 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in 8point3 Energy Partners by 1.8% during the second quarter. Ameriprise Financial Inc. now owns 732,630 shares of the energy company’s stock worth $11,085,000 after buying an additional 13,000 shares in the last quarter. Boston Common Asset Management LLC grew its holdings in 8point3 Energy Partners by 36.3% during the second quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock worth $5,602,000 after buying an additional 98,595 shares in the last quarter. Finally, Trillium Asset Management LLC grew its holdings in 8point3 Energy Partners by 2.4% during the second quarter. Trillium Asset Management LLC now owns 361,391 shares of the energy company’s stock worth $5,468,000 after buying an additional 8,444 shares in the last quarter. Institutional investors and hedge funds own 19.66% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Tuesday, October 3rd will be issued a dividend of $0.2721 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $1.09 annualized dividend and a yield of 7.34%. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.26.

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.

Earnings History and Estimates for 8point3 Energy Partners (NASDAQ:CAFD)

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