Wells Fargo & Company MN Has $2.80 Million Holdings in 8Point3 Energy Partners LP (CAFD)

Wells Fargo & Company MN cut its stake in 8Point3 Energy Partners LP (NASDAQ:CAFD) by 15.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,567 shares of the energy company’s stock after selling 33,539 shares during the period. Wells Fargo & Company MN’s holdings in 8Point3 Energy Partners were worth $2,803,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Victory Capital Management Inc. increased its position in 8Point3 Energy Partners by 8.1% in the second quarter. Victory Capital Management Inc. now owns 49,091 shares of the energy company’s stock worth $743,000 after buying an additional 3,668 shares during the period. Trillium Asset Management LLC increased its position in 8Point3 Energy Partners by 1.1% in the third quarter. Trillium Asset Management LLC now owns 365,273 shares of the energy company’s stock worth $5,490,000 after buying an additional 3,882 shares during the period. First Trust Advisors LP increased its position in 8Point3 Energy Partners by 16.6% in the second quarter. First Trust Advisors LP now owns 29,161 shares of the energy company’s stock worth $441,000 after buying an additional 4,141 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in 8Point3 Energy Partners by 2.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 160,071 shares of the energy company’s stock worth $2,406,000 after buying an additional 4,317 shares during the period. Finally, Vanguard Group Inc. increased its position in 8Point3 Energy Partners by 4.8% in the second quarter. Vanguard Group Inc. now owns 123,041 shares of the energy company’s stock worth $1,862,000 after buying an additional 5,664 shares during the period. 18.05% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have weighed in on the company. BidaskClub lowered 8Point3 Energy Partners from a “buy” rating to a “hold” rating in a research report on Thursday. JPMorgan Chase & Co. lowered 8Point3 Energy Partners from an “overweight” rating to a “neutral” rating in a research report on Tuesday. TheStreet lowered 8Point3 Energy Partners from a “b-” rating to a “c” rating in a research report on Thursday, November 30th. Roth Capital set a $15.00 price target on 8Point3 Energy Partners and gave the company a “hold” rating in a report on Saturday, November 25th. Finally, B. Riley reissued a “neutral” rating on shares of 8Point3 Energy Partners in a report on Wednesday, November 1st. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the company. 8Point3 Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $14.09.

8Point3 Energy Partners LP (NASDAQ CAFD) opened at $15.28 on Friday. 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 LP has a fifty-two week low of $11.51 and a fifty-two week high of $15.92.

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were paid a dividend of $0.2802 per share. The ex-dividend date of this dividend was Friday, December 29th. This represents a $1.12 annualized dividend and a yield of 7.34%. This is a boost from 8Point3 Energy Partners’s previous quarterly dividend of $0.27.

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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.

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

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