8point3 Energy Partners LP (NASDAQ:CAFD) Position Increased by Cornerstone Advisors Inc.

Cornerstone Advisors Inc. boosted its stake in shares of 8point3 Energy Partners LP (NASDAQ:CAFD) by 49.3% during the second quarter, Holdings Channel reports. The firm owned 10,065 shares of the energy company’s stock after buying an additional 3,325 shares during the period. Cornerstone Advisors Inc.’s holdings in 8point3 Energy Partners were worth $152,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in CAFD. Icon Advisers Inc. Co. increased its stake in shares of 8point3 Energy Partners by 54.7% in the first quarter. Icon Advisers Inc. Co. now owns 687,564 shares of the energy company’s stock valued at $9,330,000 after buying an additional 243,200 shares during the period. Evergreen Capital Management LLC increased 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 valued at $7,678,000 after buying an additional 289,086 shares during the period. Trillium Asset Management LLC increased its stake in shares of 8point3 Energy Partners by 3.5% in the first quarter. Trillium Asset Management LLC now owns 352,947 shares of the energy company’s stock valued at $4,789,000 after buying an additional 12,043 shares during the period. Baird Financial Group Inc. increased 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 valued at $4,608,000 after buying an additional 10,133 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of 8point3 Energy Partners by 131.5% in the fourth quarter. Renaissance Technologies LLC now owns 161,916 shares of the energy company’s stock valued at $2,102,000 after buying an additional 91,971 shares during the period. 55.77% of the stock is currently owned by institutional investors.

Shares of 8point3 Energy Partners LP (NASDAQ:CAFD) traded up 2.15% during midday trading on Friday, reaching $14.72. 470,872 shares of the company were exchanged. The stock has a 50-day moving average price of $14.43 and a 200 day moving average price of $13.49. 8point3 Energy Partners LP has a 52-week low of $11.51 and a 52-week high of $17.23.

8point3 Energy Partners (NASDAQ:CAFD) last issued its quarterly earnings data on Thursday, June 29th. The energy company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.03. 8point3 Energy Partners had a return on equity of 1.94% and a net margin of 23.87%. The company had revenue of $16.68 million for the quarter, compared to analyst estimates of $15.52 million. Analysts expect that 8point3 Energy Partners LP will post $0.85 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, July 6th were paid a $0.2642 dividend. This is a positive change from 8point3 Energy Partners’s previous quarterly dividend of $0.26. This represents a $1.06 annualized dividend and a yield of 7.18%. The ex-dividend date was Monday, July 3rd.

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A number of research firms have recently weighed in on CAFD. Vetr raised shares of 8point3 Energy Partners from a “sell” rating to a “hold” rating and set a $14.49 price target on the stock in a research note on Tuesday, June 27th. ValuEngine downgraded shares of 8point3 Energy Partners from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet downgraded shares of 8point3 Energy Partners from a “c-” rating to a “d” rating in a research note on Thursday, April 6th. Barclays PLC downgraded shares of 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $15.01 to $14.00 in a research note on Tuesday, June 27th. Finally, BidaskClub downgraded shares of 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. 8point3 Energy Partners currently has an average rating of “Hold” and an average price target of $15.20.

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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