Atlantica Yield PLC (ABY) Receives Average Rating of “Buy” from Analysts

Atlantica Yield PLC (NASDAQ:ABY) has been given an average rating of “Buy” by the eight brokerages that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $22.80.

ABY has been the subject of a number of research reports. BidaskClub raised Atlantica Yield PLC from a “sell” rating to a “hold” rating in a research report on Wednesday. ValuEngine raised Atlantica Yield PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research raised Atlantica Yield PLC from a “sell” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, TheStreet raised Atlantica Yield PLC from a “d” rating to a “c-” rating in a report on Monday, June 12th.

Several institutional investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. bought a new position in shares of Atlantica Yield PLC during the first quarter valued at about $107,000. SG Americas Securities LLC acquired a new position in shares of Atlantica Yield PLC during the first quarter valued at $119,000. Bronfman E.L. Rothschild L.P. acquired a new position in shares of Atlantica Yield PLC during the second quarter valued at $139,000. Sei Investments Co. raised its position in shares of Atlantica Yield PLC by 885.9% in the second quarter. Sei Investments Co. now owns 8,114 shares of the utilities provider’s stock valued at $173,000 after buying an additional 7,291 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Atlantica Yield PLC during the first quarter valued at $217,000. 51.73% of the stock is owned by institutional investors and hedge funds.

Shares of Atlantica Yield PLC (NASDAQ ABY) traded down 0.80% during midday trading on Friday, hitting $21.13. The stock had a trading volume of 320,391 shares. Atlantica Yield PLC has a 12 month low of $16.55 and a 12 month high of $22.87. The stock’s 50-day moving average is $21.05 and its 200-day moving average is $20.87. The stock has a market cap of $2.12 billion, a PE ratio of 68.16 and a beta of 1.12.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.92%. The ex-dividend date is Tuesday, August 29th. This is a boost from Atlantica Yield PLC’s previous quarterly dividend of $0.25. Atlantica Yield PLC’s payout ratio is 333.33%.

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Atlantica Yield PLC Company Profile

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).