Atlantica Yield PLC (NASDAQ:AY) Given Average Recommendation of “Buy” by Brokerages
Shares of Atlantica Yield PLC (NASDAQ:AY) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $27.00.
Several equities research analysts have weighed in on the stock. Raymond James restated an “outperform” rating and issued a $27.00 target price on shares of Atlantica Yield in a research note on Thursday, August 8th. Citigroup raised their target price on shares of Atlantica Yield from $22.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, July 29th. BidaskClub upgraded shares of Atlantica Yield from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 28th. Zacks Investment Research downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, ValuEngine upgraded shares of Atlantica Yield from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd.
AY traded down $0.49 during trading on Friday, hitting $23.93. The stock had a trading volume of 19,079 shares, compared to its average volume of 269,227. The company has a market capitalization of $2.45 billion, a PE ratio of 56.76 and a beta of 0.48. Atlantica Yield has a twelve month low of $17.50 and a twelve month high of $24.62. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.14 and a current ratio of 1.16. The stock has a 50 day simple moving average of $23.65 and a two-hundred day simple moving average of $21.72.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.40 per share. This is an increase from Atlantica Yield’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 6.69%. The ex-dividend date is Thursday, August 29th. Atlantica Yield’s payout ratio is presently 380.95%.
Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Atlantica Yield by 8.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,138,681 shares of the utilities provider’s stock valued at $22,318,000 after purchasing an additional 86,270 shares during the period. SG Americas Securities LLC acquired a new position in Atlantica Yield during the first quarter valued at $648,000. US Bancorp DE lifted its position in Atlantica Yield by 34,105.6% during the first quarter. US Bancorp DE now owns 61,228 shares of the utilities provider’s stock valued at $1,192,000 after purchasing an additional 61,049 shares during the period. Acadian Asset Management LLC lifted its position in Atlantica Yield by 32.8% during the first quarter. Acadian Asset Management LLC now owns 1,952,133 shares of the utilities provider’s stock valued at $37,988,000 after purchasing an additional 481,614 shares during the period. Finally, Apollo Management Holdings L.P. acquired a new position in Atlantica Yield during the first quarter valued at $11,326,000. Institutional investors and hedge funds own 42.96% of the company’s stock.
Atlantica Yield Company Profile
Atlantica Yield plc acquires, owns, and manages renewable energy, natural gas power, electric transmission lines, and water assets in the United States, Mexico, Peru, Chile, Uruguay, Spain, Algeria, and South Africa. As of December 31, 2018, it had 24 assets, including 1,496 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; 1,152 miles of electric transmission lines; and water desalination plants with an aggregate capacity of 10.5 million cubic feet per day.
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