Avenir Corp bought a new position in shares of 8Point3 Energy Partners LP (NASDAQ:CAFD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 80,360 shares of the energy company’s stock, valued at approximately $1,090,000. Avenir Corp owned approximately 0.29% of 8Point3 Energy Partners as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CAFD. Victory Capital Management Inc. boosted its stake in shares of 8Point3 Energy Partners by 89.3% in the first quarter. Victory Capital Management Inc. now owns 45,423 shares of the energy company’s stock worth $616,000 after buying an additional 21,434 shares in the last quarter. Clinton Group Inc. boosted its stake in shares of 8Point3 Energy Partners by 10.2% in the first quarter. Clinton Group Inc. now owns 38,206 shares of the energy company’s stock worth $518,000 after buying an additional 3,548 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of 8Point3 Energy Partners by 104.5% in the first quarter. Evergreen Capital Management LLC now owns 565,790 shares of the energy company’s stock worth $7,678,000 after buying an additional 289,086 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of 8Point3 Energy Partners by 28.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 76,832 shares of the energy company’s stock worth $1,043,000 after buying an additional 16,999 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of 8Point3 Energy Partners by 3.1% in the first quarter. Baird Financial Group Inc. now owns 339,554 shares of the energy company’s stock worth $4,608,000 after buying an additional 10,133 shares in the last quarter. 62.03% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for 8Point3 Energy Partners (NASDAQ:CAFD)

Shares of 8Point3 Energy Partners LP (NASDAQ:CAFD) opened at 13.61 on Monday. The stock has a 50 day moving average of $12.71 and a 200-day moving average of $13.10. 8Point3 Energy Partners LP has a 52 week low of $11.51 and a 52 week high of $17.34. The stock has a market capitalization of $382.11 million, a PE ratio of 16.74 and a beta of 0.91.

8Point3 Energy Partners (NASDAQ:CAFD) last posted its earnings results on Wednesday, April 5th. The energy company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.21. The firm had revenue of $9.90 million during the quarter, compared to analyst estimates of $9.64 million. 8Point3 Energy Partners had a net margin of 44.30% and a return on equity of 3.62%. On average, equities research analysts expect that 8Point3 Energy Partners LP will post $0.87 EPS for the current year.

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A number of brokerages have commented on CAFD. Vetr cut shares of 8Point3 Energy Partners from a “buy” rating to a “hold” rating and set a $13.66 target price for the company. in a report on Monday, May 22nd. FBR & Co cut shares of 8Point3 Energy Partners from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $15.00 to $13.00 in a report on Tuesday, April 11th. TheStreet cut shares of 8Point3 Energy Partners from a “c-” rating to a “d” rating in a report on Thursday, April 6th. Barclays PLC reduced their target price on shares of 8Point3 Energy Partners from $18.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 6th. Finally, Bank of America Corp cut shares of 8Point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, April 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. 8Point3 Energy Partners has a consensus rating of “Hold” and an average price target of $15.81.

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.

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