Morgan Stanley raised its position in Atlantica Yield PLC (NASDAQ:ABY) by 16.3% during the first quarter, Holdings Channel reports. The institutional investor owned 3,873,520 shares of the utilities provider’s stock after buying an additional 541,651 shares during the period. Morgan Stanley’s holdings in Atlantica Yield PLC were worth $81,189,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Atlantica Yield PLC during the fourth quarter worth $26,563,000. Acadian Asset Management LLC raised its position in shares of Atlantica Yield PLC by 124.4% in the first quarter. Acadian Asset Management LLC now owns 1,098,424 shares of the utilities provider’s stock worth $23,023,000 after buying an additional 608,953 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Atlantica Yield PLC by 392.2% in the first quarter. Prudential Financial Inc. now owns 674,020 shares of the utilities provider’s stock worth $14,128,000 after buying an additional 537,090 shares in the last quarter. Numeric Investors LLC acquired a new position in shares of Atlantica Yield PLC during the fourth quarter worth $2,937,000. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Atlantica Yield PLC during the first quarter worth $3,171,000. 54.47% of the stock is currently owned by hedge funds and other institutional investors.
Atlantica Yield PLC (NASDAQ:ABY) traded down 1.327% during mid-day trading on Friday, reaching $20.455. The company’s stock had a trading volume of 514,247 shares. Atlantica Yield PLC has a 1-year low of $16.18 and a 1-year high of $22.87. The company has a market capitalization of $2.05 billion, a PE ratio of 217.606 and a beta of 1.12. The firm has a 50 day moving average price of $20.47 and a 200-day moving average price of $20.40.
Atlantica Yield PLC (NASDAQ:ABY) last issued its earnings results on Monday, May 15th. The utilities provider reported ($0.12) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.07. The business had revenue of $198.15 million for the quarter, compared to analysts’ expectations of $208 million. Atlantica Yield PLC had a return on equity of 0.48% and a net margin of 0.97%. On average, equities analysts predict that Atlantica Yield PLC will post $0.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend was Friday, May 26th. Atlantica Yield PLC’s payout ratio is 1,111.11%.
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ABY has been the topic of several research reports. Guggenheim raised Atlantica Yield PLC from a “neutral” rating to a “buy” rating and upped their target price for the company from $22.35 to $23.00 in a report on Tuesday, February 28th. Zacks Investment Research lowered Atlantica Yield PLC from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Jefferies Group LLC initiated coverage on Atlantica Yield PLC in a report on Wednesday, April 12th. They issued a “hold” rating and a $22.00 target price on the stock. ValuEngine raised Atlantica Yield PLC from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet raised Atlantica Yield PLC from a “d” rating to a “c-” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $22.75.
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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