Citigroup initiated coverage on shares of Atlantica Yield (NASDAQ:AY) in a research report report published on Monday, MarketBeat.com reports. The brokerage issued a buy rating and a $25.00 price target on the utilities provider’s stock.
Several other equities research analysts also recently commented on AY. BidaskClub raised shares of Atlantica Yield from a hold rating to a buy rating in a research report on Friday, September 14th. Deutsche Bank initiated coverage on shares of Atlantica Yield in a research report on Friday, September 28th. They issued a buy rating for the company. ValuEngine raised shares of Atlantica Yield from a hold rating to a buy rating in a research report on Wednesday, October 3rd. Zacks Investment Research raised shares of Atlantica Yield from a hold rating to a buy rating and set a $23.00 price objective for the company in a research report on Wednesday, October 10th. Finally, Raymond James upped their price objective on shares of Atlantica Yield from $26.00 to $27.50 and gave the stock an outperform rating in a research report on Tuesday, November 6th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $25.25.
NASDAQ:AY opened at $19.66 on Monday. The company has a quick ratio of 2.57, a current ratio of 2.61 and a debt-to-equity ratio of 2.92. The stock has a market cap of $1.99 billion, a PE ratio of -109.72 and a beta of 0.75. Atlantica Yield has a one year low of $18.00 and a one year high of $21.47.
Atlantica Yield (NASDAQ:AY) last posted its earnings results on Monday, November 5th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.45 by $0.08. The company had revenue of $323.81 million during the quarter, compared to the consensus estimate of $297.91 million. Atlantica Yield had a negative net margin of 3.17% and a positive return on equity of 3.21%. On average, equities analysts predict that Atlantica Yield will post 0.87 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Friday, November 30th were given a dividend of $0.36 per share. This is an increase from Atlantica Yield’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 7.32%. The ex-dividend date was Thursday, November 29th. Atlantica Yield’s dividend payout ratio is currently -800.00%.
Several institutional investors have recently added to or reduced their stakes in the company. Tortoise Capital Advisors L.L.C. bought a new position in shares of Atlantica Yield during the 3rd quarter valued at approximately $38,000. Tower Research Capital LLC TRC bought a new position in shares of Atlantica Yield during the 3rd quarter valued at approximately $107,000. Bronfman E.L. Rothschild L.P. bought a new position in shares of Atlantica Yield during the 3rd quarter valued at approximately $114,000. Legal & General Group Plc bought a new position in shares of Atlantica Yield during the 3rd quarter valued at approximately $185,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Atlantica Yield during the 3rd quarter valued at approximately $738,000. 48.06% of the stock is owned by hedge funds and other institutional investors.
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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