8point3 Energy Partners (CAFD) Downgraded to C at TheStreet

TheStreet downgraded shares of 8point3 Energy Partners (NASDAQ:CAFD) from a b- rating to a c rating in a report published on Thursday.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird reiterated a buy rating and set a $16.00 price objective on shares of 8point3 Energy Partners in a research note on Tuesday, September 12th. Zacks Investment Research downgraded shares of 8point3 Energy Partners from a hold rating to a sell rating in a research note on Thursday, August 31st. B. Riley reiterated a neutral rating on shares of 8point3 Energy Partners in a research note on Wednesday, November 1st. Oppenheimer reiterated a hold rating on shares of 8point3 Energy Partners in a research note on Thursday, October 5th. Finally, Bank of America began coverage on shares of 8point3 Energy Partners in a research note on Tuesday, October 24th. They set an underperform rating and a $12.00 price objective on the stock. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. 8point3 Energy Partners has an average rating of Hold and a consensus target price of $14.09.

8point3 Energy Partners (NASDAQ:CAFD) opened at $14.95 on Thursday. 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 one year low of $11.51 and a one year high of $15.79.

8point3 Energy Partners (NASDAQ:CAFD) last released its quarterly earnings results on Wednesday, October 4th. The energy company reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.38). 8point3 Energy Partners had a net margin of 23.13% and a return on equity of 1.87%. The business had revenue of $27.74 million during the quarter, compared to analyst estimates of $25.85 million. equities research analysts expect that 8point3 Energy Partners will post 0.53 EPS for the current year.

Several hedge funds have recently bought and sold shares of the company. Quentec Asset Management LLC lifted its holdings in shares of 8point3 Energy Partners by 15.1% in the third quarter. Quentec Asset Management LLC now owns 2,263,160 shares of the energy company’s stock worth $34,015,000 after acquiring an additional 297,702 shares during the last quarter. Beach Investment Management LLC. lifted its holdings in shares of 8point3 Energy Partners by 1,123.7% in the second quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock worth $17,700,000 after acquiring an additional 1,074,277 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of 8point3 Energy Partners by 1.8% in the second quarter. Ameriprise Financial Inc. now owns 732,630 shares of the energy company’s stock worth $11,085,000 after acquiring an additional 13,000 shares during the last quarter. Boston Common Asset Management LLC lifted its holdings in shares of 8point3 Energy Partners by 36.3% in the second quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock worth $5,602,000 after acquiring an additional 98,595 shares during the last quarter. Finally, Trillium Asset Management LLC lifted its holdings in shares of 8point3 Energy Partners by 1.1% in the third quarter. Trillium Asset Management LLC now owns 365,273 shares of the energy company’s stock worth $5,490,000 after acquiring an additional 3,882 shares during the last quarter. 18.50% of the stock is owned by hedge funds and other institutional investors.

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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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