Abengoa Yield PLC (NASDAQ:ABY) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 4,077,581 shares, a drop of 18.9% from the August 31st total of 5,029,996 shares. Currently, 7.5% of the company’s shares are short sold. Based on an average daily volume of 438,104 shares, the days-to-cover ratio is currently 9.3 days.
Shares of Abengoa Yield PLC (NASDAQ:ABY) opened at 19.01 on Friday. The firm’s market capitalization is $1.91 billion. The stock’s 50 day moving average price is $19.01 and its 200 day moving average price is $18.45. Abengoa Yield PLC has a one year low of $13.11 and a one year high of $21.83.
Abengoa Yield PLC (NASDAQ:ABY) last issued its quarterly earnings results on Friday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.28. Abengoa Yield PLC had a negative net margin of 24.39% and a negative return on equity of 1.03%. Analysts expect that Abengoa Yield PLC will post $0.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 6.10%. The ex-dividend date was Monday, August 29th. Abengoa Yield PLC’s dividend payout ratio (DPR) is presently -50.22%.
ABY has been the topic of a number of analyst reports. Zacks Investment Research cut Abengoa Yield PLC from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 25th. Avondale Partners restated a “conviction-buy” rating on shares of Abengoa Yield PLC in a research report on Tuesday, August 23rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $21.00.
Several institutional investors have recently modified their holdings of the stock. Americafirst Capital Management LLC purchased a new position in shares of Abengoa Yield PLC during the second quarter valued at about $470,000. Strs Ohio purchased a new position in shares of Abengoa Yield PLC during the second quarter valued at about $364,000. HITE Hedge Asset Management LLC raised its position in shares of Abengoa Yield PLC by 98.8% in the second quarter. HITE Hedge Asset Management LLC now owns 651,517 shares of the company’s stock valued at $12,105,000 after buying an additional 323,731 shares during the period. Rock Point Advisors LLC purchased a new position in shares of Abengoa Yield PLC during the second quarter valued at about $945,000. Finally, Bank of New York Mellon Corp raised its position in shares of Abengoa Yield PLC by 25.9% in the second quarter. Bank of New York Mellon Corp now owns 148,860 shares of the company’s stock valued at $2,766,000 after buying an additional 30,631 shares during the period. 55.83% of the stock is currently owned by institutional investors and hedge funds.
About Abengoa Yield PLC
Atlantica Yield Plc owns, manages and acquires a diversified portfolio of contracted assets in the power and environment sectors. The Company owns approximately 20 assets, comprising 1,441 mega watts of renewable energy generation, 300 mega watts of conventional power generation, 1,099 miles of electric transmission lines and 10.5 Mft3 per day of water assets.
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