8point3 Energy Partners LP (CAFD) Position Maintained by Shelton Capital Management
Shelton Capital Management held its stake in 8point3 Energy Partners LP (NASDAQ:CAFD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,000 shares of the energy company’s stock at the end of the second quarter. Shelton Capital Management’s holdings in 8point3 Energy Partners were worth $1,468,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its holdings in 8point3 Energy Partners by 14.7% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 9,376 shares of the energy company’s stock worth $142,000 after buying an additional 1,200 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in 8point3 Energy Partners by 49.3% in the second quarter. Cornerstone Advisors Inc. now owns 10,065 shares of the energy company’s stock worth $152,000 after buying an additional 3,325 shares during the last quarter. Global X Management Co. LLC increased its holdings in 8point3 Energy Partners by 7.6% in the first quarter. Global X Management Co. LLC now owns 10,822 shares of the energy company’s stock worth $147,000 after buying an additional 761 shares during the last quarter. Bayesian Capital Management LP acquired a new position in 8point3 Energy Partners in the second quarter worth approximately $165,000. Finally, Credit Suisse AG increased its holdings in 8point3 Energy Partners by 19.3% in the first quarter. Credit Suisse AG now owns 13,391 shares of the energy company’s stock worth $182,000 after buying an additional 2,168 shares during the last quarter. Institutional investors own 19.66% of the company’s stock.
A number of research firms recently commented on CAFD. Vetr downgraded 8point3 Energy Partners from a “hold” rating to a “sell” rating and set a $14.49 price objective on the stock. in a report on Monday, July 3rd. FBR & Co restated a “hold” rating on shares of 8point3 Energy Partners in a report on Saturday, July 1st. Roth Capital set a $15.00 price objective on 8point3 Energy Partners and gave the stock a “hold” rating in a report on Saturday, July 1st. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of 8point3 Energy Partners in a report on Thursday. Finally, Bank of America Corporation set a $16.00 price objective on 8point3 Energy Partners and gave the stock a “hold” rating in a report on Thursday. 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 stock. The company presently has a consensus rating of “Hold” and a consensus target price of $14.09.
Shares of 8point3 Energy Partners LP (NASDAQ CAFD) traded down 0.26% during midday trading on Friday, reaching $14.72. The company’s stock had a trading volume of 18,840 shares. 8point3 Energy Partners LP has a 12 month low of $12.04 and a 12 month high of $15.69.
8point3 Energy Partners (NASDAQ:CAFD) last posted its quarterly earnings results on Wednesday, October 4th. The energy company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.38). The company had revenue of $27.74 million for the quarter, compared to analyst estimates of $25.85 million. 8point3 Energy Partners had a return on equity of 1.87% and a net margin of 23.13%. On average, analysts predict that 8point3 Energy Partners LP will post $0.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Tuesday, October 3rd will be given a dividend of $0.2721 per share. 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 annualized dividend and a dividend yield of 7.28%.
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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