Bank of America Corp DE raised its stake in shares of 8point3 Energy Partners LP (NASDAQ:CAFD) by 63.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 69,403 shares of the energy company’s stock after buying an additional 26,997 shares during the period. Bank of America Corp DE owned 0.25% of 8point3 Energy Partners worth $942,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Trillium Asset Management LLC increased its stake in 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 worth $4,789,000 after buying an additional 12,043 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of 8point3 Energy Partners by 3.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 8,176 shares of the energy company’s stock worth $111,000 after buying an additional 269 shares during the last quarter. Icon Advisers Inc. Co. boosted its position 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 worth $9,330,000 after buying an additional 243,200 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of 8point3 Energy Partners during the first quarter worth approximately $441,000. Finally, Wealthsource Partners LLC boosted its position in shares of 8point3 Energy Partners by 8.6% in the first quarter. Wealthsource Partners LLC now owns 12,650 shares of the energy company’s stock worth $172,000 after buying an additional 1,000 shares during the last quarter. 54.67% of the stock is owned by institutional investors and hedge funds.
Shares of 8point3 Energy Partners LP (CAFD) traded up 0.70% during trading on Monday, hitting $14.45. The stock had a trading volume of 32,504 shares. 8point3 Energy Partners LP has a 12 month low of $11.51 and a 12 month high of $15.99.
8point3 Energy Partners (NASDAQ:CAFD) last released its earnings results on Thursday, June 29th. The energy company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.03. 8point3 Energy Partners had a net margin of 23.87% and a return on equity of 1.94%. The business 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.
A number of research firms have issued reports on CAFD. Vetr upgraded 8point3 Energy Partners from a “hold” rating to a “buy” rating and set a $13.81 target price on the stock in a research report on Tuesday, May 16th. Credit Suisse Group decreased their target price on 8point3 Energy Partners from $12.00 to $11.00 and set a “sell” rating on the stock in a research report on Tuesday, July 4th. Zacks Investment Research cut 8point3 Energy Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Barclays PLC lowered 8point3 Energy Partners from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $15.01 to $14.00 in a research note on Tuesday, June 27th. Finally, BidaskClub lowered 8point3 Energy Partners from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price 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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