BlackRock Inc. Takes Position in Atlantica Yield PLC (AY)

BlackRock Inc. bought a new stake in shares of Atlantica Yield PLC (NASDAQ:AY) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 685,303 shares of the utilities provider’s stock, valued at approximately $14,534,000. BlackRock Inc. owned 0.68% of Atlantica Yield at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in AY. Legal & General Group Plc grew its stake in shares of Atlantica Yield by 73.2% in the 3rd quarter. Legal & General Group Plc now owns 8,994 shares of the utilities provider’s stock worth $177,000 after purchasing an additional 3,800 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Atlantica Yield in the 3rd quarter worth approximately $378,000. Dimensional Fund Advisors LP grew its stake in shares of Atlantica Yield by 122.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 715,324 shares of the utilities provider’s stock worth $14,091,000 after purchasing an additional 393,781 shares during the last quarter. OxFORD Asset Management LLP acquired a new position in shares of Atlantica Yield in the 3rd quarter worth approximately $845,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Atlantica Yield by 198.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 30,044 shares of the utilities provider’s stock worth $592,000 after purchasing an additional 19,993 shares during the last quarter. 53.64% of the stock is currently owned by hedge funds and other institutional investors.

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AY stock opened at $20.20 on Friday. The company has a quick ratio of 2.25, a current ratio of 2.28 and a debt-to-equity ratio of 3.06. The company has a market cap of $2,041.42, a P/E ratio of -112.22 and a beta of 1.00. Atlantica Yield PLC has a 52 week low of $18.00 and a 52 week high of $25.99.

Atlantica Yield (NASDAQ:AY) last posted its quarterly earnings results on Wednesday, March 7th. The utilities provider reported ($0.60) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.41). The company had revenue of $233.20 million for the quarter. Atlantica Yield had a negative return on equity of 0.88% and a negative net margin of 11.09%. analysts anticipate that Atlantica Yield PLC will post 0.69 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 27th. Shareholders of record on Monday, March 19th were paid a $0.31 dividend. The ex-dividend date was Friday, March 16th. This is a boost from Atlantica Yield’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a yield of 6.14%. Atlantica Yield’s payout ratio is -688.89%.

Several brokerages have recently issued reports on AY. Zacks Investment Research raised shares of Atlantica Yield from a “sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised shares of Atlantica Yield from a “sell” rating to a “hold” rating in a research note on Saturday, March 24th. Finally, Guggenheim set a $27.00 price objective on shares of Atlantica Yield and gave the stock a “buy” rating in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Atlantica Yield currently has an average rating of “Buy” and an average target price of $25.25.

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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.

Institutional Ownership by Quarter for Atlantica Yield (NASDAQ:AY)

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