Atlantica Yield PLC (NASDAQ:AY) Sees Significant Increase in Short Interest

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Atlantica Yield PLC (NASDAQ:AY) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 2,659,800 shares, a growth of 451.3% from the April 30th total of 482,500 shares. Based on an average daily volume of 349,700 shares, the short-interest ratio is currently 7.6 days. Currently, 4.5% of the shares of the stock are short sold.

A number of research analysts have issued reports on the company. Zacks Investment Research cut Atlantica Yield from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. BidaskClub upgraded Atlantica Yield from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, ValuEngine upgraded Atlantica Yield from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Atlantica Yield presently has an average rating of “Buy” and an average price target of $24.70.

Several hedge funds have recently made changes to their positions in AY. Bank of Montreal Can acquired a new stake in shares of Atlantica Yield during the fourth quarter valued at about $30,000. Quantamental Technologies LLC acquired a new stake in shares of Atlantica Yield during the first quarter valued at about $117,000. Osborn Williams & Donohoe LLC acquired a new stake in shares of Atlantica Yield during the first quarter valued at about $124,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Atlantica Yield during the fourth quarter valued at about $205,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Atlantica Yield during the first quarter valued at about $207,000. 45.50% of the stock is currently owned by hedge funds and other institutional investors.

Atlantica Yield stock opened at $22.62 on Wednesday. Atlantica Yield has a 12-month low of $17.50 and a 12-month high of $22.82. The company has a current ratio of 1.55, a quick ratio of 1.52 and a debt-to-equity ratio of 3.12. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 53.86 and a beta of 0.52.

Atlantica Yield (NASDAQ:AY) last announced its quarterly earnings results on Friday, May 10th. The utilities provider reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). Atlantica Yield had a net margin of 3.60% and a return on equity of 2.08%. The firm had revenue of $221.45 million for the quarter, compared to analyst estimates of $236.80 million. As a group, equities analysts anticipate that Atlantica Yield will post 1.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.90%. This is a positive change from Atlantica Yield’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, May 31st. Atlantica Yield’s dividend payout ratio (DPR) is presently 371.43%.

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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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