8Point3 Energy Partners LP (NASDAQ:CAFD) announced a quarterly dividend on Thursday, December 21st, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be given a dividend of 0.2802 per share by the energy company on Friday, January 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date is Friday, December 29th. This is an increase from 8Point3 Energy Partners’s previous quarterly dividend of $0.27.
Shares of 8Point3 Energy Partners (NASDAQ:CAFD) opened at $15.28 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.26 and a current ratio of 3.26. 8Point3 Energy Partners has a 1 year low of $11.51 and a 1 year high of $15.92.
An institutional investor recently raised its position in 8Point3 Energy Partners stock. Vanguard Group Inc. raised its stake in 8Point3 Energy Partners LP (NASDAQ:CAFD) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 123,041 shares of the energy company’s stock after purchasing an additional 5,664 shares during the quarter. Vanguard Group Inc. owned approximately 0.44% of 8Point3 Energy Partners worth $1,862,000 at the end of the most recent reporting period. 18.05% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently commented on CAFD shares. FBR & Co reaffirmed a “neutral” rating and set a $15.00 price target (up previously from $14.00) on shares of 8Point3 Energy Partners in a research report on Wednesday, October 4th. Bank of America set a $16.00 price target on 8Point3 Energy Partners and gave the stock a “hold” rating in a research report on Thursday, October 5th. Oppenheimer reaffirmed a “hold” rating on shares of 8Point3 Energy Partners in a research report on Thursday, October 5th. Roth Capital set a $15.00 target price on 8Point3 Energy Partners and gave the company a “hold” rating in a research report on Wednesday, October 4th. Finally, Goldman Sachs Group lowered 8Point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Tuesday, October 17th. Five investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company. 8Point3 Energy Partners currently has a consensus rating of “Hold” and a consensus price target of $14.09.
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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.
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