8Point3 Energy Partners (NASDAQ:CAFD) has been assigned a $15.00 target price by equities researchers at B. Riley in a note issued to investors on Tuesday. The firm currently has a “hold” rating on the energy company’s stock. B. Riley’s price target indicates a potential upside of 23.97% from the stock’s current price.
CAFD has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered shares of 8Point3 Energy Partners from an “overweight” rating to a “neutral” rating in a report on Tuesday, January 9th. BidaskClub lowered shares of 8Point3 Energy Partners from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Robert W. Baird lowered shares of 8Point3 Energy Partners from an “outperform” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Monday, January 22nd. Raymond James Financial reaffirmed a “market perform” rating on shares of 8Point3 Energy Partners in a report on Tuesday. Finally, Zacks Investment Research raised shares of 8Point3 Energy Partners from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Four analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $13.92.
8Point3 Energy Partners (NASDAQ CAFD) traded down $1.73 during midday trading on Tuesday, hitting $12.10. 283,038 shares of the stock traded hands, compared to its average volume of 159,961. 8Point3 Energy Partners has a one year low of $11.51 and a one year high of $15.92. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.26 and a current ratio of 3.26.
A number of hedge funds have recently added to or reduced their stakes in CAFD. Quentec Asset Management LLC grew its stake in 8Point3 Energy Partners by 15.1% in the 3rd quarter. Quentec Asset Management LLC now owns 2,263,160 shares of the energy company’s stock worth $34,015,000 after buying an additional 297,702 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in 8Point3 Energy Partners by 102.7% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 155,754 shares of the energy company’s stock worth $2,357,000 after buying an additional 78,922 shares in the last quarter. Wealthsource Partners LLC grew its stake in 8Point3 Energy Partners by 217.2% in the 2nd quarter. Wealthsource Partners LLC now owns 40,125 shares of the energy company’s stock worth $607,000 after buying an additional 27,475 shares in the last quarter. WFG Advisors LP grew its stake in 8Point3 Energy Partners by 14.5% in the 2nd quarter. WFG Advisors LP now owns 148,075 shares of the energy company’s stock worth $2,240,000 after buying an additional 18,782 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in 8Point3 Energy Partners in the 2nd quarter worth approximately $250,000. 17.41% of the stock is owned by institutional investors and hedge funds.
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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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