Atlantica Yield (NASDAQ:AY) Reaches New 1-Year High at $23.93

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Shares of Atlantica Yield PLC (NASDAQ:AY) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.93 and last traded at $23.89, with a volume of 11680 shares. The stock had previously closed at $23.73.

Several research analysts recently weighed in on the company. ValuEngine upgraded Atlantica Yield from a “hold” rating to a “buy” rating in a research note on Thursday, May 23rd. BidaskClub downgraded Atlantica Yield from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research downgraded Atlantica Yield from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Raymond James restated an “outperform” rating and set a $27.00 target price on shares of Atlantica Yield in a research note on Thursday, August 8th. Finally, Citigroup boosted their target price on Atlantica Yield from $22.00 to $27.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Atlantica Yield has a consensus rating of “Buy” and a consensus target price of $26.67.

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 company has a 50 day simple moving average of $23.22 and a two-hundred day simple moving average of $21.16. The firm has a market cap of $2.40 billion, a PE ratio of 56.90 and a beta of 0.54.

Atlantica Yield (NASDAQ:AY) last posted its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.22). The firm had revenue of $283.34 million for the quarter. Atlantica Yield had a negative net margin of 0.68% and a negative return on equity of 0.40%. As a group, research analysts predict that Atlantica Yield PLC will post 0.78 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.69%. The ex-dividend date of this dividend is Thursday, August 29th. This is an increase from Atlantica Yield’s previous quarterly dividend of $0.39. Atlantica Yield’s payout ratio is presently 371.43%.

A number of institutional investors have recently bought and sold shares of AY. Cohen & Steers Inc. lifted its holdings in shares of Atlantica Yield by 21.1% in the 2nd quarter. Cohen & Steers Inc. now owns 2,449 shares of the utilities provider’s stock valued at $56,000 after buying an additional 427 shares during the period. Quantamental Technologies LLC lifted its holdings in shares of Atlantica Yield by 7.8% in the 2nd quarter. Quantamental Technologies LLC now owns 6,470 shares of the utilities provider’s stock valued at $147,000 after buying an additional 466 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Atlantica Yield by 4.2% in the 2nd quarter. SG Americas Securities LLC now owns 34,702 shares of the utilities provider’s stock valued at $787,000 after buying an additional 1,400 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Atlantica Yield in the 2nd quarter valued at about $35,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Atlantica Yield in the 2nd quarter valued at about $54,000. Institutional investors and hedge funds own 47.44% of the company’s stock.

About Atlantica Yield (NASDAQ:AY)

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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