A number of other research firms also recently issued reports on CAFD. TheStreet downgraded 8Point3 Energy Partners from a b- rating to a c rating in a report on Thursday, November 30th. BidaskClub downgraded 8Point3 Energy Partners from a hold rating to a sell rating in a report on Wednesday, December 6th. JPMorgan Chase downgraded 8Point3 Energy Partners from an overweight rating to a neutral rating in a report on Tuesday, January 9th. Robert W. Baird downgraded 8Point3 Energy Partners from an outperform rating to a neutral rating and set a $16.00 price objective for the company. in a report on Monday, January 22nd. Finally, Zacks Investment Research downgraded 8Point3 Energy Partners from a hold rating to a sell rating in a report on Tuesday, January 30th. Four research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $13.27.
Shares of 8Point3 Energy Partners stock opened at $12.15 on Thursday. 8Point3 Energy Partners has a 1 year low of $11.51 and a 1 year high of $15.92. The stock has a market capitalization of $960.92, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.65 and a beta of 0.93. The company has a quick ratio of 4.72, a current ratio of 4.72 and a debt-to-equity ratio of 0.82.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Tuesday, April 3rd will be paid a $0.2802 dividend. The ex-dividend date of this dividend is Monday, April 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 9.22%. 8Point3 Energy Partners’s dividend payout ratio is 88.19%.
Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in 8Point3 Energy Partners in the fourth quarter valued at approximately $103,000. Quantitative Systematic Strategies LLC bought a new position in 8Point3 Energy Partners in the fourth quarter valued at approximately $195,000. Kayne Anderson Capital Advisors LP bought a new position in 8Point3 Energy Partners in the fourth quarter valued at approximately $205,000. Ladenburg Thalmann Financial Services Inc. grew its stake in 8Point3 Energy Partners by 90.7% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,357 shares of the energy company’s stock valued at $351,000 after purchasing an additional 11,112 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in 8Point3 Energy Partners by 83.6% in the fourth quarter. Geode Capital Management LLC now owns 24,303 shares of the energy company’s stock valued at $369,000 after purchasing an additional 11,066 shares in the last quarter. Hedge funds and other institutional investors own 17.53% of the company’s stock.
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8Point3 Energy Partners Company Profile
8point3 Energy Partners LP, together with its subsidiaries, acquires, owns, and operates solar energy generation projects in the United States. It owns interests in 10 utility-scale solar energy projects; and 4 commercial and industrial solar energy projects, as well as a portfolio of residential DG solar assets.
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