Shares of Atlantica Yield PLC (NASDAQ:ABY) have received a consensus recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $22.80.
A number of analysts have recently commented on ABY shares. TheStreet upgraded Atlantica Yield PLC from a “d” rating to a “c-” rating in a report on Monday, June 12th. ValuEngine upgraded Atlantica Yield PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Atlantica Yield PLC from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, BidaskClub upgraded Atlantica Yield PLC from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st.
A number of hedge funds have recently added to or reduced their stakes in ABY. Epoch Investment Partners Inc. raised its stake in Atlantica Yield PLC by 35.8% in the second quarter. Epoch Investment Partners Inc. now owns 374,132 shares of the utilities provider’s stock valued at $7,991,000 after buying an additional 98,562 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Atlantica Yield PLC by 112.6% in the second quarter. Dimensional Fund Advisors LP now owns 321,543 shares of the utilities provider’s stock valued at $6,868,000 after buying an additional 170,273 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in Atlantica Yield PLC during the second quarter valued at about $319,000. Parametric Portfolio Associates LLC raised its stake in Atlantica Yield PLC by 63.2% in the second quarter. Parametric Portfolio Associates LLC now owns 114,126 shares of the utilities provider’s stock valued at $2,438,000 after buying an additional 44,185 shares during the last quarter. Finally, Apollo Management Holdings L.P. acquired a new position in shares of Atlantica Yield PLC during the second quarter worth $2,136,000. Institutional investors and hedge funds own 56.87% of the company’s stock.
Atlantica Yield PLC (NASDAQ:ABY) opened at 21.12 on Tuesday. Atlantica Yield PLC has a 12 month low of $16.55 and a 12 month high of $22.87. The firm has a 50-day moving average price of $21.04 and a 200 day moving average price of $20.89. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 68.13 and a beta of 1.12.
Atlantica Yield PLC (NASDAQ:ABY) last issued its quarterly earnings results on Monday, May 15th. The utilities provider reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.07. The company had revenue of $198.15 million for the quarter, compared to analyst estimates of $208 million. Atlantica Yield PLC had a return on equity of 1.58% and a net margin of 3.15%. On average, equities analysts forecast that Atlantica Yield PLC will post $0.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Tuesday, August 29th. This is a positive change from Atlantica Yield PLC’s previous quarterly dividend of $0.25. Atlantica Yield PLC’s dividend payout ratio is presently 333.33%.
About Atlantica Yield PLC
Atlantica Yield plc, formerly Abengoa Yield plc, is a total return company. The Company owns, manages, and acquires renewable energy, conventional power, electric transmission lines and water assets, focused on North America (the United States and Mexico), South America (Peru, Chile, Brazil and Uruguay) and Europe, Middle East and Africa (Spain, Algeria and South Africa).
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