Atlantica Yield PLC (NASDAQ:AY) has received an average rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $31.75.
A number of analysts have commented on AY shares. Royal Bank of Canada restated a “hold” rating and issued a $26.00 price target on shares of Atlantica Yield in a research report on Wednesday, April 8th. Morgan Stanley upgraded shares of Atlantica Yield from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $28.00 to $34.00 in a research note on Wednesday, June 17th. BidaskClub raised shares of Atlantica Yield from a “buy” rating to a “strong-buy” rating in a report on Friday. Raymond James set a $33.00 price objective on shares of Atlantica Yield and gave the company an “outperform” rating in a research report on Wednesday, July 15th. Finally, Zacks Investment Research downgraded shares of Atlantica Yield from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th.
A number of hedge funds and other institutional investors have recently made changes to their positions in AY. Kayne Anderson Capital Advisors LP increased its stake in Atlantica Yield by 33.9% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 2,280,756 shares of the utilities provider’s stock worth $50,853,000 after acquiring an additional 577,137 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Atlantica Yield by 92.1% in the first quarter. BlackRock Inc. now owns 1,887,572 shares of the utilities provider’s stock valued at $42,094,000 after purchasing an additional 905,180 shares in the last quarter. Invesco Ltd. lifted its position in Atlantica Yield by 1.8% during the first quarter. Invesco Ltd. now owns 1,478,923 shares of the utilities provider’s stock valued at $32,981,000 after purchasing an additional 25,995 shares during the last quarter. FMR LLC purchased a new position in shares of Atlantica Yield in the 1st quarter worth $26,976,000. Finally, Norges Bank bought a new stake in shares of Atlantica Yield in the 4th quarter worth about $31,935,000. Institutional investors own 39.27% of the company’s stock.
Atlantica Yield (NASDAQ:AY) last issued its quarterly earnings data on Thursday, May 7th. The utilities provider reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.29). The business had revenue of $210.40 million during the quarter. Atlantica Yield had a return on equity of 1.92% and a net margin of 3.23%. As a group, sell-side analysts predict that Atlantica Yield will post 0.73 EPS for the current fiscal year.
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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