Atlantica Yield PLC (NASDAQ:AY) has received an average rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.13.
Several brokerages have issued reports on AY. BidaskClub raised shares of Atlantica Yield from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. Raymond James boosted their price target on shares of Atlantica Yield from $26.00 to $27.50 and gave the company an “outperform” rating in a report on Tuesday, November 6th. Bank of America boosted their target price on shares of Atlantica Yield from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research downgraded shares of Atlantica Yield from a “buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Finally, Royal Bank of Canada restated a “buy” rating and issued a $24.00 target price on shares of Atlantica Yield in a research note on Tuesday, July 24th.
Large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new stake in shares of Atlantica Yield in the 3rd quarter valued at $107,000. Bronfman E.L. Rothschild L.P. acquired a new stake in shares of Atlantica Yield in the 3rd quarter valued at $114,000. Atria Investments LLC boosted its stake in shares of Atlantica Yield by 31.9% in the 2nd quarter. Atria Investments LLC now owns 17,047 shares of the utilities provider’s stock valued at $344,000 after purchasing an additional 4,124 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Atlantica Yield in the 3rd quarter valued at $738,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Atlantica Yield in the 3rd quarter valued at $773,000. Institutional investors own 49.69% of the company’s stock.
Atlantica Yield (NASDAQ:AY) last announced its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.08. The firm had revenue of $323.81 million for the quarter, compared to analyst estimates of $297.91 million. Atlantica Yield had a negative net margin of 3.17% and a positive return on equity of 3.21%. Analysts expect that Atlantica Yield will post 0.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 7.24%. The ex-dividend date is Thursday, November 29th. This is an increase from Atlantica Yield’s previous quarterly dividend of $0.34. Atlantica Yield’s payout ratio is currently -755.56%.
About Atlantica Yield
Atlantica Yield plc acquires, owns, and manages renewable energy natural gas, power, electric transmission lines, and water assets in North America, South America, Spain, Algeria, and South Africa. As of December 31, 2017, it had 22 assets, including 1,446 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; 1,099 miles of electric transmission lines; and desalination plants with an aggregate capacity of 10.5 million cubic feet per day.
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