Atlantica Yield PLC (NASDAQ:ABY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, September 11th.
According to Zacks, “Atlantica Yield Plc owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. It operates primarily in North America, South America and Europe. Atlantica Yield Plc, formerly known as Abengoa Yield plc, is based in Brentford, the United Kingdom. “
A number of other research analysts have also recently issued reports on the company. BidaskClub cut Atlantica Yield PLC from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. TheStreet raised Atlantica Yield PLC from a “d” rating to a “c-” rating in a research note on Monday, June 12th. Finally, ValuEngine raised Atlantica Yield PLC from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Atlantica Yield PLC presently has an average rating of “Hold” and a consensus target price of $22.80.
Atlantica Yield PLC (ABY) opened at 19.83 on Monday. The stock has a market cap of $1.99 billion, a PE ratio of 63.97 and a beta of 1.12. The firm has a 50-day moving average price of $21.03 and a 200-day moving average price of $20.78. Atlantica Yield PLC has a 12-month low of $16.55 and a 12-month high of $22.87.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ecofin Ltd. increased its stake in shares of Atlantica Yield PLC by 6.8% during the second quarter. Ecofin Ltd. now owns 922,044 shares of the utilities provider’s stock worth $19,695,000 after purchasing an additional 59,046 shares during the period. Verition Fund Management LLC bought a new position in shares of Atlantica Yield PLC during the second quarter worth approximately $2,367,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Atlantica Yield PLC by 316.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 291,198 shares of the utilities provider’s stock worth $6,220,000 after purchasing an additional 221,298 shares during the period. BlueCrest Capital Management Ltd bought a new position in shares of Atlantica Yield PLC during the second quarter worth approximately $486,000. Finally, AHL Partners LLP increased its stake in shares of Atlantica Yield PLC by 82.9% during the second quarter. AHL Partners LLP now owns 527,928 shares of the utilities provider’s stock worth $11,277,000 after purchasing an additional 239,245 shares during the period. Institutional investors own 47.78% of the company’s stock.
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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