Short Interest in Atlantica Yield PLC (ABY) Decreases By 24.4%

Atlantica Yield PLC (NASDAQ:ABY) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 942,269 shares, a decline of 24.4% from the August 15th total of 1,246,352 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average trading volume of 345,586 shares, the days-to-cover ratio is currently 2.7 days.

Atlantica Yield PLC (ABY) opened at 19.85 on Friday. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of 64.03 and a beta of 1.12. The firm’s 50-day moving average is $21.15 and its 200-day moving average is $20.80. Atlantica Yield PLC has a 52 week low of $16.55 and a 52 week high of $22.87.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $1.04 dividend on an annualized basis and a yield of 5.24%. This is a boost from Atlantica Yield PLC’s previous quarterly dividend of $0.25. Atlantica Yield PLC’s dividend payout ratio (DPR) is presently 346.67%.

ABY has been the subject of several recent analyst reports. BidaskClub upgraded shares of Atlantica Yield PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. 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 lowered shares of Atlantica Yield PLC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 11th. Finally, TheStreet upgraded shares of Atlantica Yield PLC from a “d” rating to a “c-” rating in a research note on Monday, June 12th. One 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. The stock currently has an average rating of “Hold” and an average price target of $22.80.

A number of hedge funds have recently added to or reduced their stakes in the business. Morgan Stanley raised its holdings in Atlantica Yield PLC by 16.3% during the first quarter. Morgan Stanley now owns 3,873,520 shares of the utilities provider’s stock worth $81,189,000 after purchasing an additional 541,651 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Atlantica Yield PLC during the second quarter worth approximately $61,608,000. Eventide Asset Management LLC raised its holdings in Atlantica Yield PLC by 3.1% during the first quarter. Eventide Asset Management LLC now owns 923,000 shares of the utilities provider’s stock worth $19,346,000 after purchasing an additional 28,000 shares in the last quarter. Ecofin Ltd. raised its holdings in 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 in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Atlantica Yield PLC by 392.2% during the first quarter. Prudential Financial Inc. now owns 674,020 shares of the utilities provider’s stock worth $14,128,000 after purchasing an additional 537,090 shares in the last quarter. 47.79% of the stock is currently owned by institutional investors.

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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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