8Point3 Energy Partners LP (CAFD) Position Reduced by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in shares of 8Point3 Energy Partners LP (NASDAQ:CAFD) by 13.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,953 shares of the energy company’s stock after selling 3,770 shares during the period. Janney Montgomery Scott LLC’s holdings in 8Point3 Energy Partners were worth $360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Quentec Asset Management LLC grew its stake in 8Point3 Energy Partners by 15.1% during the third quarter. Quentec Asset Management LLC now owns 2,263,160 shares of the energy company’s stock worth $34,015,000 after purchasing an additional 297,702 shares during the period. Beach Investment Management LLC. grew its stake in 8Point3 Energy Partners by 1,123.7% during the second quarter. Beach Investment Management LLC. now owns 1,169,875 shares of the energy company’s stock worth $17,700,000 after purchasing an additional 1,074,277 shares during the period. Ameriprise Financial Inc. grew its stake in 8Point3 Energy Partners by 1.8% during the second quarter. Ameriprise Financial Inc. now owns 732,630 shares of the energy company’s stock worth $11,085,000 after purchasing an additional 13,000 shares during the period. Boston Common Asset Management LLC grew its stake in 8Point3 Energy Partners by 36.3% during the second quarter. Boston Common Asset Management LLC now owns 370,289 shares of the energy company’s stock worth $5,602,000 after purchasing an additional 98,595 shares during the period. Finally, Trillium Asset Management LLC grew its stake in 8Point3 Energy Partners by 1.1% during the third quarter. Trillium Asset Management LLC now owns 365,273 shares of the energy company’s stock worth $5,490,000 after purchasing an additional 3,882 shares during the period. 18.05% of the stock is owned by institutional investors and hedge funds.

8Point3 Energy Partners LP (CAFD) opened at $15.15 on Thursday. 8Point3 Energy Partners LP has a fifty-two week low of $11.51 and a fifty-two week high of $15.79. The company has a debt-to-equity ratio of 0.83, a quick ratio of 3.26 and a current ratio of 3.26.

8Point3 Energy Partners (NASDAQ:CAFD) last posted 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 net margin of 23.13% and a return on equity of 1.87%. The company had revenue of $27.74 million during the quarter, compared to the consensus estimate of $25.85 million. sell-side analysts predict that 8Point3 Energy Partners LP will post 0.53 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Tuesday, January 2nd will be issued a $0.2802 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.40%. The ex-dividend date of this dividend is Friday, December 29th. This is a positive change from 8Point3 Energy Partners’s previous quarterly dividend of $0.27.

Several research firms recently commented on CAFD. B. Riley reaffirmed a “neutral” rating on shares of 8Point3 Energy Partners in a research note on Wednesday, November 1st. FBR & Co reiterated a “neutral” rating and issued a $15.00 price target (up previously from $14.00) on shares of 8Point3 Energy Partners in a report on Wednesday, October 4th. Zacks Investment Research lowered 8Point3 Energy Partners from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. TheStreet lowered 8Point3 Energy Partners from a “b-” rating to a “c” rating in a report on Thursday, November 30th. Finally, Goldman Sachs Group lowered 8Point3 Energy Partners from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a report on Tuesday, October 17th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the stock. 8Point3 Energy Partners currently has an average rating of “Hold” and a consensus price target of $14.09.

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

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