Atlantica Yield PLC (ABY) Sees Large Increase in Short Interest

Atlantica Yield PLC (NASDAQ:ABY) saw a large growth in short interest in May. As of May 31st, there was short interest totalling 1,831,555 shares, a growth of 52.6% from the May 15th total of 1,200,494 shares. Based on an average daily volume of 672,639 shares, the short-interest ratio is presently 2.7 days. Currently, 3.1% of the shares of the stock are sold short.

Atlantica Yield PLC (ABY) opened at 20.49 on Friday. The company has a market capitalization of $2.05 billion, a PE ratio of 217.98 and a beta of 1.12. The company has a 50 day moving average price of $20.46 and a 200-day moving average price of $20.41. Atlantica Yield PLC has a 12-month low of $16.18 and a 12-month high of $22.87.

Atlantica Yield PLC (NASDAQ:ABY) last released its quarterly earnings data on Monday, May 15th. The utilities provider reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.07. The business had revenue of $198.15 million for the quarter, compared to analyst estimates of $208 million. Atlantica Yield PLC had a return on equity of 0.48% and a net margin of 0.97%. On average, analysts anticipate that Atlantica Yield PLC will post $0.46 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.88%. The ex-dividend date of this dividend was Friday, May 26th. Atlantica Yield PLC’s dividend payout ratio (DPR) is presently 1,111.11%.

A number of hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its position in Atlantica Yield PLC by 2.3% in the first quarter. California Public Employees Retirement System now owns 22,300 shares of the utilities provider’s stock valued at $467,000 after buying an additional 500 shares in the last quarter. American International Group Inc. increased its position in Atlantica Yield PLC by 7.0% in the first quarter. American International Group Inc. now owns 36,240 shares of the utilities provider’s stock valued at $760,000 after buying an additional 2,382 shares in the last quarter. Teachers Advisors LLC increased its position in Atlantica Yield PLC by 2.4% in the first quarter. Teachers Advisors LLC now owns 105,529 shares of the utilities provider’s stock valued at $2,212,000 after buying an additional 2,441 shares in the last quarter. Premier Fund Managers Ltd increased its position in Atlantica Yield PLC by 16.7% in the first quarter. Premier Fund Managers Ltd now owns 17,500 shares of the utilities provider’s stock valued at $367,000 after buying an additional 2,500 shares in the last quarter. Finally, UBS Group AG increased its position in Atlantica Yield PLC by 10.0% in the first quarter. UBS Group AG now owns 35,166 shares of the utilities provider’s stock valued at $738,000 after buying an additional 3,184 shares in the last quarter. 54.47% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on the stock. TheStreet upgraded shares of Atlantica Yield PLC from a “d” rating to a “c-” rating in a research note on Monday, June 12th. ValuEngine upgraded shares of Atlantica Yield PLC from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Atlantica Yield PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, May 16th. Jefferies Group LLC assumed coverage on shares of Atlantica Yield PLC in a research note on Wednesday, April 12th. They issued a “hold” rating and a $22.00 target price on the stock. Finally, Guggenheim upgraded shares of Atlantica Yield PLC from a “neutral” rating to a “buy” rating and boosted their target price for the company from $22.35 to $23.00 in a research note on Tuesday, February 28th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $22.75.

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Atlantica Yield PLC Company Profile

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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