BidaskClub upgraded shares of Atlantica Yield (NASDAQ:AY) from a hold rating to a buy rating in a report released on Friday, September 14th.
Several other equities research analysts also recently weighed in on AY. Zacks Investment Research upgraded shares of Atlantica Yield from a hold rating to a buy rating and set a $23.00 target price for the company in a research note on Wednesday, June 13th. Raymond James started coverage on shares of Atlantica Yield in a research note on Wednesday, June 20th. They set an outperform rating and a $26.00 target price for the company. Royal Bank of Canada reissued a buy rating and set a $24.00 price target on shares of Atlantica Yield in a report on Tuesday, July 24th. Finally, Bank of America increased their price target on shares of Atlantica Yield from $25.00 to $26.00 and gave the stock a buy rating in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $25.20.
NASDAQ AY traded down $0.08 during trading hours on Friday, hitting $20.25. The company had a trading volume of 155,600 shares, compared to its average volume of 301,649. The company has a debt-to-equity ratio of 2.99, a current ratio of 2.51 and a quick ratio of 2.47. Atlantica Yield has a 1-year low of $18.00 and a 1-year high of $25.99. The company has a market capitalization of $2.06 billion, a PE ratio of -114.06 and a beta of 0.97.
Atlantica Yield (NASDAQ:AY) last released its quarterly earnings data on Monday, August 6th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.44. Atlantica Yield had a negative net margin of 5.50% and a positive return on equity of 1.95%. The company had revenue of $287.85 million during the quarter. On average, research analysts expect that Atlantica Yield will post 0.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Saturday, September 15th. Investors of record on Friday, August 31st were issued a dividend of $0.34 per share. This is a boost from Atlantica Yield’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 6.72%. The ex-dividend date was Thursday, August 30th. Atlantica Yield’s dividend payout ratio is currently -755.56%.
A number of institutional investors have recently modified their holdings of AY. Kayne Anderson Capital Advisors LP purchased a new position in shares of Atlantica Yield during the 1st quarter worth approximately $11,810,000. BlackRock Inc. increased its stake in shares of Atlantica Yield by 85.5% during the 1st quarter. BlackRock Inc. now owns 1,271,251 shares of the utilities provider’s stock worth $24,892,000 after purchasing an additional 585,948 shares in the last quarter. Melqart Asset Management UK Ltd increased its stake in shares of Atlantica Yield by 20.2% during the 1st quarter. Melqart Asset Management UK Ltd now owns 2,020,794 shares of the utilities provider’s stock worth $39,567,000 after purchasing an additional 339,251 shares in the last quarter. Indaba Capital Management L.P. increased its stake in shares of Atlantica Yield by 29.5% during the 1st quarter. Indaba Capital Management L.P. now owns 1,335,765 shares of the utilities provider’s stock worth $26,154,000 after purchasing an additional 304,063 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Atlantica Yield by 25.5% during the 2nd quarter. Acadian Asset Management LLC now owns 1,245,740 shares of the utilities provider’s stock worth $25,139,000 after purchasing an additional 253,170 shares in the last quarter. 49.48% of the stock is owned by institutional investors.
About Atlantica Yield
Atlantica Yield plc acquires, owns, and manages renewable energy natural gas, power, electric transmission lines, and water assets in North America, South America, Spain, Algeria, and South Africa. As of December 31, 2017, it had 22 assets, including 1,446 megawatts (MW) of renewable energy generation assets comprising solar power and wind plants; 300 MW of natural gas power generation assets that produce electricity and steam from natural gas; 1,099 miles of electric transmission lines; and desalination plants with an aggregate capacity of 10.5 million cubic feet per day.
Featured Story: Terms to Better Understand Call Options