Robert W. Baird Cuts 8Point3 Energy Partners (CAFD) Price Target to $13.00

8Point3 Energy Partners (NASDAQ:CAFD) had its price objective cut by Robert W. Baird from $16.00 to $13.00 in a research note issued to investors on Tuesday morning. They currently have a neutral rating on the energy company’s stock.

Other equities research analysts have also issued reports about the stock. B. Riley reiterated a neutral rating on shares of 8Point3 Energy Partners in a research note on Wednesday, November 1st. Raymond James Financial reiterated a market perform rating on shares of 8Point3 Energy Partners in a research note on Tuesday. Zacks Investment Research lowered shares of 8Point3 Energy Partners from a hold rating to a sell rating in a research note on Tuesday, October 17th. Roth Capital restated a neutral rating and issued a $12.00 price objective on shares of 8Point3 Energy Partners in a research note on Tuesday. Finally, Goldman Sachs Group lowered 8Point3 Energy Partners from a buy rating to a neutral rating and set a $16.00 price objective for the company. in a research note on Tuesday, October 17th. Four analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. 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) opened at $12.35 on Tuesday. The firm has a market cap of $976.70 and a price-to-earnings ratio of 47.50. 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 12 month low of $11.51 and a 12 month high of $15.92.

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were issued a $0.2802 dividend. The ex-dividend date was Friday, December 29th. This represents a $1.12 annualized dividend and a yield of 9.08%. This is an increase from 8Point3 Energy Partners’s previous quarterly dividend of $0.27. 8Point3 Energy Partners’s dividend payout ratio is currently 430.77%.

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in 8Point3 Energy Partners in the 4th quarter worth $103,000. AE Wealth Management LLC bought a new position in 8Point3 Energy Partners in the 3rd quarter worth $156,000. Quantitative Systematic Strategies LLC bought a new position in 8Point3 Energy Partners in the 4th quarter worth $195,000. Goldman Sachs Group Inc. bought a new position in 8Point3 Energy Partners in the 2nd quarter worth $250,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in 8Point3 Energy Partners by 90.7% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,357 shares of the energy company’s stock worth $351,000 after buying an additional 11,112 shares during the period. 17.41% of the stock is owned by institutional investors.

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About 8Point3 Energy Partners

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)

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