Oppenheimer Holdings Inc. Reaffirms Outperform Rating for 8point3 Energy Partners LP (CAFD)

oppenheimer-holdings-inc-reaffirms-outperform-rating-for-8point3-energy-partners-lp-cafd.jpg

8point3 Energy Partners LP (NASDAQ:CAFD)‘s stock had its “outperform” rating restated by investment analysts at Oppenheimer Holdings Inc. in a report issued on Friday. They presently have a $20.00 price objective on the stock. Oppenheimer Holdings Inc.’s target price points to a potential upside of 31.49% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. Mizuho reduced their target price on shares of 8point3 Energy Partners from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, May 31st. JPMorgan Chase & Co. set a $19.00 target price on shares of 8point3 Energy Partners and gave the stock a “buy” rating in a report on Tuesday. Robert W. Baird set a $20.00 target price on shares of 8point3 Energy Partners and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank AG reissued a “buy” rating and set a $18.00 target price on shares of 8point3 Energy Partners in a report on Wednesday. Finally, Zacks Investment Research raised shares of 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report on Tuesday, June 7th. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.50.

Shares of 8point3 Energy Partners (NASDAQ:CAFD) traded down 3.22% during midday trading on Friday, hitting $14.72. 2,352,329 shares of the stock traded hands. The stock has a market capitalization of $294.66 million, a P/E ratio of 7.01 and a beta of 1.24. The firm has a 50-day moving average price of $15.70 and a 200-day moving average price of $15.33. 8point3 Energy Partners has a 52 week low of $10.26 and a 52 week high of $17.34.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/23/oppenheimer-holdings-inc-reaffirms-outperform-rating-for-8point3-energy-partners-lp-cafd.html

8point3 Energy Partners (NASDAQ:CAFD) last posted its earnings results on Tuesday, September 20th. The company reported $0.38 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.38. 8point3 Energy Partners had a net margin of 87.76% and a return on equity of 2.67%. The firm had revenue of $26.10 million for the quarter. On average, equities analysts predict that 8point3 Energy Partners will post $0.94 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be issued a dividend of $0.2406 per share. This is an increase from 8point3 Energy Partners’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.96 annualized dividend and a yield of 6.33%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Neumeier Poma Investment Counsel LLC increased its position in 8point3 Energy Partners by 1.4% in the first quarter. Neumeier Poma Investment Counsel LLC now owns 92,750 shares of the company’s stock valued at $1,363,000 after buying an additional 1,250 shares during the last quarter. Goldman Sachs Group Inc. increased its position in 8point3 Energy Partners by 7.8% in the first quarter. Goldman Sachs Group Inc. now owns 20,017 shares of the company’s stock valued at $294,000 after buying an additional 1,444 shares during the last quarter. BlackRock Fund Advisors increased its position in 8point3 Energy Partners by 84.5% in the first quarter. BlackRock Fund Advisors now owns 6,937 shares of the company’s stock valued at $102,000 after buying an additional 3,178 shares during the last quarter. Baird Financial Group Inc. increased its position in 8point3 Energy Partners by 1.5% in the second quarter. Baird Financial Group Inc. now owns 226,399 shares of the company’s stock valued at $3,568,000 after buying an additional 3,262 shares during the last quarter. Finally, BlackRock Group LTD increased its position in 8point3 Energy Partners by 110.7% in the second quarter. BlackRock Group LTD now owns 6,368 shares of the company’s stock valued at $101,000 after buying an additional 3,346 shares during the last quarter. Hedge funds and other institutional investors own 68.78% of the company’s stock.
8point3 Energy Partners Company Profile
8point3 Energy Partners LP (8point3 Partners) is a limited partnership formed by First Solar and SunPower to own, operate and acquire solar energy generation projects. The Company’s portfolio includes utility projects, and commercial and industrial (C&I) projects. Its utility projects include MarylandSolar project, a 100% owned project located in Maryland; Solar Gen 2 project, a 49% owned project located in California; Lost Hills / Blackwell project, a 49% owned project located in California; North Star project, a 49% owned project located in California; RPU project, a 100% owned project located in California, and Quinto project, a 100% owned project located in California.

Receive News & Ratings for 8point3 Energy Partners LP Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for 8point3 Energy Partners LP and related companies with MarketBeat.com’s FREE daily email newsletter.

Be the first to comment on "Oppenheimer Holdings Inc. Reaffirms Outperform Rating for 8point3 Energy Partners LP (CAFD)"

Leave a comment

Your email address will not be published.

*