Several other analysts also recently weighed in on AY. BidaskClub upgraded shares of Atlantica Yield from a sell rating to a hold rating in a research report on Thursday, January 31st. Raymond James reiterated an outperform rating and issued a $27.50 price objective on shares of Atlantica Yield in a research report on Tuesday, February 26th. Finally, Zacks Investment Research downgraded shares of Atlantica Yield from a buy rating to a hold rating in a research report on Thursday, March 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $24.70.
Shares of NASDAQ:AY opened at $21.76 on Thursday. The stock has a market capitalization of $2.18 billion, a P/E ratio of 51.81 and a beta of 0.65. Atlantica Yield has a fifty-two week low of $17.50 and a fifty-two week high of $21.96. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.52 and a current ratio of 1.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 7.17%. This is an increase from Atlantica Yield’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, May 31st. Atlantica Yield’s payout ratio is 352.38%.
Several hedge funds have recently added to or reduced their stakes in AY. BlackRock Inc. bought a new stake in shares of Atlantica Yield during the 3rd quarter worth about $8,188,000. JPMorgan Chase & Co. bought a new stake in shares of Atlantica Yield during the 3rd quarter worth about $2,272,000. Legal & General Group Plc bought a new stake in shares of Atlantica Yield during the 3rd quarter worth about $185,000. Morgan Stanley bought a new stake in shares of Atlantica Yield during the 3rd quarter worth about $201,652,000. Finally, Vanguard Group Inc. bought a new stake in shares of Atlantica Yield during the 3rd quarter worth about $3,988,000. Institutional investors own 49.15% 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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