BidaskClub downgraded shares of Atlantica Yield (NASDAQ:AY) from a strong-buy rating to a buy rating in a research report sent to investors on Tuesday, BidAskClub reports.

A number of other research analysts have also recently weighed in on AY. Zacks Investment Research cut shares of Atlantica Yield from a buy rating to a hold rating in a report on Thursday, August 8th. Raymond James reissued an outperform rating and set a $27.00 target price on shares of Atlantica Yield in a research note on Thursday, August 8th. ValuEngine raised shares of Atlantica Yield from a hold rating to a buy rating in a research note on Thursday, May 23rd. Finally, Citigroup boosted their target price on shares of Atlantica Yield from $22.00 to $27.00 and gave the stock a buy rating in a research note on Monday, July 29th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $26.67.

AY opened at $24.30 on Tuesday. Atlantica Yield has a fifty-two week low of $17.50 and a fifty-two week high of $24.75. The company has a quick ratio of 1.14, a current ratio of 1.16 and a debt-to-equity ratio of 2.80. The company has a fifty day moving average of $23.78 and a two-hundred day moving average of $21.88.

Atlantica Yield (NASDAQ:AY) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.22). Atlantica Yield had a negative net margin of 0.68% and a negative return on equity of 0.40%. The firm had revenue of $283.34 million during the quarter. Sell-side analysts predict that Atlantica Yield will post 0.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.58%. This is a boost from Atlantica Yield’s previous quarterly dividend of $0.39. Atlantica Yield’s payout ratio is currently 380.95%.

A number of institutional investors and hedge funds have recently bought and sold shares of AY. FMR LLC acquired a new position in Atlantica Yield during the first quarter worth about $26,976,000. Acadian Asset Management LLC boosted its holdings in Atlantica Yield by 36.1% in the 2nd quarter. Acadian Asset Management LLC now owns 2,656,922 shares of the utilities provider’s stock valued at $60,234,000 after purchasing an additional 704,789 shares during the last quarter. Kayne Anderson Capital Advisors LP boosted its holdings in Atlantica Yield by 1,294.6% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 664,443 shares of the utilities provider’s stock valued at $15,059,000 after purchasing an additional 616,800 shares during the last quarter. Apollo Management Holdings L.P. acquired a new position in Atlantica Yield in the 1st quarter valued at about $11,326,000. Finally, Victory Capital Management Inc. acquired a new position in Atlantica Yield in the 2nd quarter valued at about $9,305,000. Hedge funds and other institutional investors own 42.96% of the company’s stock.

About Atlantica Yield

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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