Norges Bank bought a new position in Atlantica Yield PLC (NASDAQ:AY) in the 4th quarter, HoldingsChannel reports. The firm bought 1,754,451 shares of the utilities provider’s stock, valued at approximately $34,388,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in shares of Atlantica Yield in the 4th quarter worth about $30,000. Nisa Investment Advisors LLC purchased a new position in shares of Atlantica Yield in the 4th quarter worth about $33,000. Tortoise Capital Advisors L.L.C. purchased a new position in shares of Atlantica Yield in the 3rd quarter worth about $38,000. Tower Research Capital LLC TRC purchased a new position in shares of Atlantica Yield in the 3rd quarter worth about $107,000. Finally, Legal & General Group Plc purchased a new position in shares of Atlantica Yield in the 3rd quarter worth about $185,000. Hedge funds and other institutional investors own 50.67% of the company’s stock.
AY has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a report on Tuesday, January 15th. BidaskClub downgraded shares of Atlantica Yield from a “hold” rating to a “sell” rating in a report on Tuesday, January 22nd. Zacks Investment Research raised shares of Atlantica Yield from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, January 8th. Citigroup started coverage on shares of Atlantica Yield in a report on Monday, January 7th. They set a “buy” rating and a $25.00 price objective on the stock. Finally, Raymond James dropped their price objective on shares of Atlantica Yield from $27.50 to $25.50 and set an “outperform” rating on the stock in a report on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $24.70.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 7.35%. The ex-dividend date was Monday, March 11th. Atlantica Yield’s dividend payout ratio (DPR) is presently 352.38%.
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Atlantica Yield 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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