Shares of Atlantica Yield PLC (NASDAQ:AY) have been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $24.75.
A number of equities research analysts have commented on AY shares. Zacks Investment Research cut shares of Atlantica Yield from a “hold” rating to a “sell” rating in a report on Monday, December 25th. Royal Bank of Canada raised their price target on shares of Atlantica Yield from $23.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday, November 13th. Guggenheim set a $27.00 price target on shares of Atlantica Yield and gave the stock a “buy” rating in a report on Thursday, January 18th. Finally, BidaskClub upgraded shares of Atlantica Yield from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 31st.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. purchased a new position in Atlantica Yield during the fourth quarter worth about $60,159,000. Ardsley Advisory Partners purchased a new position in Atlantica Yield during the fourth quarter worth about $40,083,000. Ecofin Ltd. purchased a new position in Atlantica Yield during the fourth quarter worth about $36,449,000. Guggenheim Capital LLC purchased a new position in Atlantica Yield during the fourth quarter worth about $19,693,000. Finally, Goldman Sachs Group Inc. purchased a new position in Atlantica Yield during the fourth quarter worth about $19,555,000. Hedge funds and other institutional investors own 54.05% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Stockholders of record on Monday, March 19th will be issued a dividend of $0.31 per share. This is a boost from Atlantica Yield’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.29%. The ex-dividend date is Friday, March 16th. Atlantica Yield’s dividend payout ratio (DPR) is currently -103.57%.
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About Atlantica Yield
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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