Short Interest in Atlantica Yield PLC (NASDAQ:AY) Declines By 21.2%

Atlantica Yield PLC (NASDAQ:AY) was the target of a significant drop in short interest in July. As of July 31st, there was short interest totalling 1,072,800 shares, a drop of 21.2% from the June 30th total of 1,362,200 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily volume of 359,900 shares, the short-interest ratio is currently 3.0 days.

Shares of AY traded down $0.02 during trading hours on Wednesday, hitting $23.59. The company had a trading volume of 1,434 shares, compared to its average volume of 399,289. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 56.10 and a beta of 0.54. The company’s 50 day moving average is $23.07. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 2.80. Atlantica Yield has a 52-week low of $17.50 and a 52-week high of $23.74.

Atlantica Yield (NASDAQ:AY) last released its quarterly earnings data on Wednesday, August 7th. The utilities provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.22). The company had revenue of $283.34 million during the quarter. Atlantica Yield had a negative return on equity of 0.40% and a negative net margin of 0.68%. On average, equities research analysts forecast that Atlantica Yield will post 0.78 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 29th. This is a boost from Atlantica Yield’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 6.78%. Atlantica Yield’s dividend payout ratio (DPR) is presently 371.43%.

Several hedge funds and other institutional investors have recently bought and sold shares of AY. Norges Bank bought a new stake in shares of Atlantica Yield in the fourth quarter worth about $34,388,000. FMR LLC bought a new stake in shares of Atlantica Yield in the first quarter worth about $26,976,000. Acadian Asset Management LLC grew its stake in shares of Atlantica Yield by 36.1% in the second quarter. Acadian Asset Management LLC now owns 2,656,922 shares of the utilities provider’s stock worth $60,234,000 after purchasing an additional 704,789 shares during the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Atlantica Yield by 1,294.6% in the second quarter. Kayne Anderson Capital Advisors LP now owns 664,443 shares of the utilities provider’s stock worth $15,059,000 after purchasing an additional 616,800 shares during the last quarter. Finally, Apollo Management Holdings L.P. bought a new stake in shares of Atlantica Yield in the first quarter worth about $11,326,000. 46.14% of the stock is currently owned by institutional investors.

AY has been the topic of a number of research reports. ValuEngine upgraded Atlantica Yield from a “hold” rating to a “buy” rating in a research report on Thursday, May 23rd. BidaskClub upgraded Atlantica Yield from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 24th. Raymond James restated an “outperform” rating and set a $27.00 price target on shares of Atlantica Yield in a research report on Thursday, August 8th. Citigroup raised their price target on Atlantica Yield from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Zacks Investment Research downgraded Atlantica Yield from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.67.

About Atlantica Yield

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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