8Point3 Energy Partners LP (NASDAQ:CAFD) announced a quarterly dividend on Friday, March 24th. Investors of record on Tuesday, April 4th will be given a dividend of 0.2565 per share by the energy company on Friday, April 14th. This represents a $1.03 annualized dividend and a yield of 8.42%. The ex-dividend date of this dividend is Friday, March 31st. This is a positive change from 8Point3 Energy Partners’s previous quarterly dividend of $0.25.
8Point3 Energy Partners (NASDAQ:CAFD) traded up 0.41% during mid-day trading on Friday, reaching $12.18. The company had a trading volume of 282,034 shares. The stock has a market capitalization of $341.97 million, a PE ratio of 14.98 and a beta of 0.91. The company’s 50-day moving average is $12.70 and its 200-day moving average is $13.43. 8Point3 Energy Partners has a one year low of $11.51 and a one year high of $17.34.
8Point3 Energy Partners (NASDAQ:CAFD) last issued its earnings results on Wednesday, April 5th. The energy company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.21. The company earned $9.90 million during the quarter, compared to the consensus estimate of $9.64 million. 8Point3 Energy Partners had a net margin of 44.30% and a return on equity of 3.62%. Equities research analysts anticipate that 8Point3 Energy Partners will post $0.81 earnings per share for the current year.
Several brokerages recently weighed in on CAFD. Roth Capital downgraded shares of 8Point3 Energy Partners from a “buy” rating to a “neutral” rating and upped their target price for the stock from $15.00 to $18.00 in a report on Friday, January 27th. Avondale Partners cut shares of 8Point3 Energy Partners from a “market perform” rating to an “underperform” rating in a research note on Friday, January 27th. Robert W. Baird reiterated an “outperform” rating and issued a $20.00 price target on shares of 8Point3 Energy Partners in a research note on Friday, January 20th. Guggenheim upgraded shares of 8Point3 Energy Partners from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, January 12th. Finally, Vetr cut shares of 8Point3 Energy Partners from a “strong-buy” rating to a “buy” rating and set a $14.74 price target on the stock. in a research note on Tuesday, March 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.87.
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.
