Bronfman E.L. Rothschild L.P. purchased a new stake in shares of Atlantica Yield PLC (NASDAQ:AY) in the third quarter, according to the company in its most recent filing with the SEC. The fund purchased 5,530 shares of the utilities provider’s stock, valued at approximately $114,000.
Other hedge funds also recently added to or reduced their stakes in the company. Renaissance Technologies LLC bought a new stake in Atlantica Yield during the 3rd quarter valued at $3,159,000. Nokota Management LP bought a new stake in Atlantica Yield during the 3rd quarter valued at $15,892,000. JPMorgan Chase & Co. bought a new stake in Atlantica Yield during the 3rd quarter valued at $2,272,000. GAM Holding AG bought a new stake in Atlantica Yield during the 3rd quarter valued at $932,000. Finally, Tower Research Capital LLC TRC bought a new stake in Atlantica Yield during the 3rd quarter valued at $107,000. Institutional investors and hedge funds own 48.06% of the company’s stock.
A number of brokerages have issued reports on AY. BidaskClub raised shares of Atlantica Yield from a “sell” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised shares of Atlantica Yield from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, October 10th. Deutsche Bank began coverage on shares of Atlantica Yield in a report on Friday, September 28th. They set a “buy” rating on the stock. ValuEngine raised shares of Atlantica Yield from a “hold” rating to a “buy” rating in a report on Wednesday, October 3rd. Finally, Raymond James boosted their target price on shares of Atlantica Yield from $26.00 to $27.50 and gave the company an “outperform” rating in a report on Tuesday, November 6th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $25.50.
Atlantica Yield (NASDAQ:AY) last released its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.08. The firm had revenue of $323.81 million for the quarter, compared to analysts’ expectations of $297.91 million. Atlantica Yield had a negative net margin of 3.17% and a positive return on equity of 3.21%. As a group, sell-side analysts anticipate that Atlantica Yield PLC will post 0.87 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.44 annualized dividend and a dividend yield of 7.28%. This is a boost from Atlantica Yield’s previous quarterly dividend of $0.34. Atlantica Yield’s dividend payout ratio is presently -800.00%.
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Atlantica Yield Profile
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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