8Point3 Energy Partners (NASDAQ:CAFD) Downgraded by TheStreet

TheStreet lowered shares of 8Point3 Energy Partners (NASDAQ:CAFD) from a c rating to a d+ rating in a research report sent to investors on Tuesday, January 16th.

CAFD has been the topic of several other reports. Zacks Investment Research downgraded shares of 8Point3 Energy Partners from a hold rating to a sell rating in a research note on Wednesday, November 1st. Bank of America assumed coverage on shares of 8Point3 Energy Partners in a research note on Tuesday, October 24th. They issued an underperform rating and a $12.00 price target on the stock. BidaskClub raised shares of 8Point3 Energy Partners from a hold rating to a buy rating in a research note on Thursday, January 4th. Robert W. Baird reaffirmed a buy rating and issued a $16.00 price target on shares of 8Point3 Energy Partners in a research note on Friday, October 20th. Finally, Roth Capital set a $15.00 price target on shares of 8Point3 Energy Partners and gave the stock a hold rating in a research note on Saturday, November 25th. Four analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. 8Point3 Energy Partners currently has a consensus rating of Hold and a consensus price target of $13.45.

Shares of 8Point3 Energy Partners (NASDAQ CAFD) traded up $0.02 during trading hours on Tuesday, reaching $12.35. 1,044,626 shares of the company’s stock traded hands, compared to its average volume of 379,673. The company has a debt-to-equity ratio of 0.82, a quick ratio of 3.26 and a current ratio of 4.72. 8Point3 Energy Partners has a 52 week low of $11.51 and a 52 week high of $15.92.

The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Tuesday, January 2nd were issued a dividend of $0.2802 per share. This represents a $1.12 dividend on an annualized basis and a yield of 9.08%. This is a boost from 8Point3 Energy Partners’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, December 29th.

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in shares of 8Point3 Energy Partners in the fourth quarter valued at about $103,000. AE Wealth Management LLC bought a new stake in shares of 8Point3 Energy Partners in the third quarter valued at about $156,000. Bayesian Capital Management LP bought a new stake in shares of 8Point3 Energy Partners in the second quarter valued at about $165,000. Quantitative Systematic Strategies LLC bought a new stake in shares of 8Point3 Energy Partners in the fourth quarter valued at about $195,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of 8Point3 Energy Partners in the second quarter valued at about $250,000. Institutional investors own 17.41% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another publication, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this report can be accessed at https://ledgergazette.com/2018/02/11/8point3-energy-partners-cafd-rating-lowered-to-d-at-thestreet.html.

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)

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

Leave a Reply