Wealthsource Partners LLC lifted its stake in shares of 8point3 Energy Partners LP (NASDAQ:CAFD) by 217.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,125 shares of the energy company’s stock after acquiring an additional 27,475 shares during the period. Wealthsource Partners LLC’s holdings in 8point3 Energy Partners were worth $607,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Quentec Asset Management LLC lifted its position in shares of 8point3 Energy Partners by 12.6% during the 2nd quarter. Quentec Asset Management LLC now owns 1,965,458 shares of the energy company’s stock valued at $29,737,000 after acquiring an additional 220,700 shares during the period. Beach Investment Management LLC. lifted its position in shares of 8point3 Energy Partners by 1,123.7% during the 2nd quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock valued at $17,700,000 after acquiring an additional 1,074,277 shares during the period. Ameriprise Financial Inc. lifted its position in shares of 8point3 Energy Partners by 1.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 732,630 shares of the energy company’s stock valued at $11,085,000 after acquiring an additional 13,000 shares during the period. Boston Common Asset Management LLC lifted its position in shares of 8point3 Energy Partners by 36.3% during the 2nd quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock valued at $5,602,000 after acquiring an additional 98,595 shares during the period. Finally, Trillium Asset Management LLC lifted its position in shares of 8point3 Energy Partners by 2.4% during the 2nd quarter. Trillium Asset Management LLC now owns 361,391 shares of the energy company’s stock valued at $5,468,000 after acquiring an additional 8,444 shares during the period. Institutional investors own 19.66% of the company’s stock.

CAFD has been the topic of a number of research reports. Zacks Investment Research upgraded shares of 8point3 Energy Partners from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Bank of America Corporation set a $16.00 price objective on shares of 8point3 Energy Partners and gave the stock a “hold” rating in a report on Thursday, October 5th. BidaskClub downgraded shares of 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Credit Suisse Group lowered their price objective on shares of 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating on the stock in a report on Tuesday, July 4th. Finally, Vetr upgraded shares of 8point3 Energy Partners from a “sell” rating to a “hold” rating and set a $14.49 price objective on the stock in a report on Tuesday, June 27th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $14.09.

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8point3 Energy Partners (NASDAQ:CAFD) last issued its earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.38). 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%. The business had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $25.85 million.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd will be given a $0.2721 dividend. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.26. The ex-dividend date is Monday, October 2nd. This represents a $1.09 dividend on an annualized basis and a yield of 7.12%.

8point3 Energy Partners Profile

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.

Institutional Ownership by Quarter for 8point3 Energy Partners (NASDAQ:CAFD)

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