Atlantica Yield PLC (NASDAQ:AY) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 1,310,000 shares, an increase of 23.6% from the August 15th total of 1,060,000 shares. Based on an average daily volume of 466,000 shares, the short-interest ratio is presently 2.8 days. Currently, 2.3% of the company's shares are sold short.
Shares of NASDAQ AY opened at $27.87 on Wednesday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 1.36 and a current ratio of 1.38. The business's 50 day moving average price is $29.62 and its 200-day moving average price is $26.71. Atlantica Yield has a fifty-two week low of $17.74 and a fifty-two week high of $32.50. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 171.84, a PEG ratio of 1.23 and a beta of 0.72.
Atlantica Yield (NASDAQ:AY) last issued its quarterly earnings results on Monday, August 3rd. The utilities provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.18). Atlantica Yield had a return on equity of 1.04% and a net margin of 1.75%. The business had revenue of $255.34 million during the quarter. Sell-side analysts predict that Atlantica Yield will post 0.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Monday, August 31st were paid a $0.42 dividend. The ex-dividend date was Friday, August 28th. This represents a $1.68 annualized dividend and a yield of 6.03%. This is a boost from Atlantica Yield's previous quarterly dividend of $0.41. Atlantica Yield's dividend payout ratio is 275.41%.
A number of large investors have recently made changes to their positions in the stock. Kayne Anderson Capital Advisors LP grew its stake in Atlantica Yield by 15.3% in the second quarter. Kayne Anderson Capital Advisors LP now owns 2,630,411 shares of the utilities provider's stock worth $76,535,000 after purchasing an additional 349,655 shares in the last quarter. BlackRock Inc. grew its stake in Atlantica Yield by 92.1% in the first quarter. BlackRock Inc. now owns 1,887,572 shares of the utilities provider's stock worth $42,094,000 after purchasing an additional 905,180 shares in the last quarter. Invesco Ltd. grew its stake in Atlantica Yield by 1.8% in the first quarter. Invesco Ltd. now owns 1,478,923 shares of the utilities provider's stock worth $32,981,000 after purchasing an additional 25,995 shares in the last quarter. FMR LLC bought a new position in Atlantica Yield in the first quarter worth approximately $26,976,000. Finally, Neuberger Berman Group LLC grew its stake in Atlantica Yield by 108.6% in the second quarter. Neuberger Berman Group LLC now owns 920,865 shares of the utilities provider's stock worth $26,797,000 after purchasing an additional 479,475 shares in the last quarter. 37.03% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded Atlantica Yield from a "sell" rating to a "hold" rating in a research report on Monday, August 10th. BidaskClub downgraded Atlantica Yield from a "hold" rating to a "sell" rating in a research report on Friday, September 4th. Morgan Stanley upped their price objective on Atlantica Yield from $34.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. Raymond James set a $33.00 price objective on Atlantica Yield and gave the company an "outperform" rating in a research report on Wednesday, August 5th. Finally, Seaport Global Securities started coverage on Atlantica Yield in a report on Tuesday, September 8th. They issued a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and a consensus target price of $31.60.
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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