Atlantica Yield PLC (NASDAQ:AY) Short Interest Update

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Atlantica Yield PLC (NASDAQ:AY) was the recipient of a large decline in short interest in the month of March. As of March 13th, there was short interest totalling 450,000 shares, a decline of 30.8% from the February 27th total of 650,700 shares. Currently, 0.8% of the shares of the company are short sold. Based on an average trading volume of 705,600 shares, the short-interest ratio is presently 0.6 days.

AY opened at $22.34 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.13 and a current ratio of 1.15. Atlantica Yield has a fifty-two week low of $17.74 and a fifty-two week high of $32.50. The firm’s fifty day moving average is $27.30 and its 200 day moving average is $25.94. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 36.03 and a beta of 0.59.

Atlantica Yield (NASDAQ:AY) last released its earnings results on Thursday, February 27th. The utilities provider reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.13. Atlantica Yield had a net margin of 6.32% and a return on equity of 3.75%. The company had revenue of $213.29 million for the quarter. On average, equities research analysts predict that Atlantica Yield will post 1.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Shareholders of record on Thursday, March 12th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 7.34%. The ex-dividend date of this dividend was Wednesday, March 11th. Atlantica Yield’s payout ratio is currently 268.85%.

A number of hedge funds have recently made changes to their positions in AY. FMR LLC purchased a new stake in Atlantica Yield in the 1st quarter worth $26,976,000. First Trust Advisors LP lifted its stake in Atlantica Yield by 3.8% in the 1st quarter. First Trust Advisors LP now owns 97,845 shares of the utilities provider’s stock worth $1,904,000 after purchasing an additional 3,562 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Atlantica Yield by 74.9% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,691 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 1,152 shares in the last quarter. State Street Corp lifted its stake in Atlantica Yield by 335.9% in the 3rd quarter. State Street Corp now owns 181,792 shares of the utilities provider’s stock worth $4,379,000 after purchasing an additional 140,086 shares in the last quarter. Finally, Barclays PLC lifted its stake in Atlantica Yield by 268.6% in the 3rd quarter. Barclays PLC now owns 10,806 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 7,874 shares in the last quarter. Institutional investors and hedge funds own 42.75% of the company’s stock.

A number of equities research analysts have recently issued reports on AY shares. ValuEngine raised shares of Atlantica Yield from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Royal Bank of Canada cut shares of Atlantica Yield from an “outperform” rating to a “sector perform” rating and lifted their target price for the company from $25.00 to $27.00 in a research note on Wednesday, January 15th. BidaskClub cut shares of Atlantica Yield from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 17th. Raymond James lifted their target price on shares of Atlantica Yield from $30.00 to $33.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, Citigroup lifted their target price on shares of Atlantica Yield from $27.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.00.

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.

Further Reading: Monthly Dividend Stocks

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