Atlantica Yield PLC (ABY) Given Average Rating of “Hold” by Brokerages

Atlantica Yield PLC (NASDAQ:ABY) has received a consensus rating of “Hold” from the eight research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $23.00.

Several analysts have recently weighed in on the company. Royal Bank Of Canada restated a “buy” rating and issued a $23.00 price objective on shares of Atlantica Yield PLC in a report on Monday, September 25th. BidaskClub lowered Atlantica Yield PLC from a “sell” rating to a “strong sell” rating in a report on Monday, September 18th. Zacks Investment Research lowered Atlantica Yield PLC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 11th. Finally, TheStreet upgraded Atlantica Yield PLC from a “d” rating to a “c-” rating in a report on Monday, June 12th.

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Several institutional investors have recently made changes to their positions in ABY. Vanguard Group Inc. raised its position in shares of Atlantica Yield PLC by 22.1% during the first quarter. Vanguard Group Inc. now owns 313,460 shares of the utilities provider’s stock worth $6,570,000 after purchasing an additional 56,649 shares during the period. Apollo Management Holdings L.P. acquired a new stake in shares of Atlantica Yield PLC during the second quarter worth $2,136,000. State of Tennessee Treasury Department raised its position in shares of Atlantica Yield PLC by 64.0% during the first quarter. State of Tennessee Treasury Department now owns 44,921 shares of the utilities provider’s stock worth $942,000 after purchasing an additional 17,524 shares during the period. Bank of New York Mellon Corp raised its position in shares of Atlantica Yield PLC by 7.4% during the first quarter. Bank of New York Mellon Corp now owns 225,808 shares of the utilities provider’s stock worth $4,733,000 after purchasing an additional 15,489 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Atlantica Yield PLC during the first quarter worth $107,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Atlantica Yield PLC (NASDAQ:ABY) opened at 20.61 on Friday. The stock has a 50 day moving average price of $20.40 and a 200-day moving average price of $20.67. The stock’s market cap is $2.07 billion. Atlantica Yield PLC has a 12 month low of $16.55 and a 12 month high of $22.87.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.26 dividend. This is a positive change from Atlantica Yield PLC’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.04 annualized dividend and a dividend yield of 5.05%. Atlantica Yield PLC’s dividend payout ratio is 346.67%.

About Atlantica Yield PLC

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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