Atlantica Yield (NASDAQ:AY) Sets New 1-Year High at $22.44

Atlantica Yield PLC (NASDAQ:AY) shares hit a new 52-week high on Friday . The stock traded as high as $22.44 and last traded at $22.42, with a volume of 2383 shares. The stock had previously closed at $22.21.

Several brokerages have recently weighed in on AY. Zacks Investment Research lowered shares of Atlantica Yield from a “buy” rating to a “hold” rating in a report on Thursday, March 7th. Raymond James reiterated an “outperform” rating and set a $25.50 price objective on shares of Atlantica Yield in a report on Monday, May 13th. BidaskClub upgraded shares of Atlantica Yield from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 30th. Finally, ValuEngine upgraded shares of Atlantica Yield from a “hold” rating to a “buy” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Atlantica Yield currently has a consensus rating of “Buy” and an average target price of $24.70.

The stock has a market capitalization of $2.20 billion, a PE ratio of 53.33 and a beta of 0.53. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.52 and a current ratio of 1.55.

Atlantica Yield (NASDAQ:AY) last posted its earnings results on Friday, May 10th. The utilities provider reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). The business had revenue of $221.45 million for the quarter, compared to analyst estimates of $236.80 million. Atlantica Yield had a return on equity of 2.08% and a net margin of 3.60%. As a group, research analysts anticipate that Atlantica Yield PLC will post 1.07 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Monday, June 3rd will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 6.96%. The ex-dividend date of this dividend is Friday, May 31st. This is an increase from Atlantica Yield’s previous quarterly dividend of $0.37. Atlantica Yield’s dividend payout ratio is 371.43%.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can acquired a new stake in Atlantica Yield in the fourth quarter valued at approximately $30,000. Advisor Group Inc. grew its position in Atlantica Yield by 224.0% in the first quarter. Advisor Group Inc. now owns 2,495 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 1,725 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Atlantica Yield in the first quarter valued at approximately $50,000. Kore Private Wealth LLC acquired a new stake in Atlantica Yield in the first quarter valued at approximately $91,000. Finally, Quantamental Technologies LLC acquired a new stake in Atlantica Yield in the first quarter valued at approximately $117,000. 45.50% of the stock is owned by hedge funds and other institutional investors.

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About Atlantica Yield (NASDAQ:AY)

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.

Read More: Outperform Rating

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