Atlantica Yield PLC (ABY) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Atlantica Yield PLC (NASDAQ:ABY) from a hold rating to a buy rating in a research report released on Wednesday, October 18th. Zacks Investment Research currently has $24.00 price target on the utilities provider’s stock.

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. “

Several other equities research analysts also recently commented on the stock. Royal Bank Of Canada reiterated a buy rating and set a $23.00 price objective on shares of Atlantica Yield PLC in a research note on Monday, September 25th. BidaskClub cut shares of Atlantica Yield PLC from a sell rating to a strong sell rating in a report on Monday, September 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Atlantica Yield PLC has an average rating of Hold and an average price target of $23.33.

Atlantica Yield PLC (ABY) traded up 0.72% during midday trading on Wednesday, reaching $22.26. The company had a trading volume of 211,049 shares. Atlantica Yield PLC has a 52 week low of $16.55 and a 52 week high of $22.87. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 71.81 and a beta of 1.10. The firm has a 50-day moving average price of $20.47 and a 200-day moving average price of $20.68.

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Several institutional investors have recently modified their holdings of the stock. Fox Run Management L.L.C. purchased a new position in shares of Atlantica Yield PLC during the third quarter worth $717,000. Boussard & Gavaudan Investment Management LLP raised its holdings in shares of Atlantica Yield PLC by 2.7% during the third quarter. Boussard & Gavaudan Investment Management LLP now owns 310,096 shares of the utilities provider’s stock worth $6,087,000 after purchasing an additional 8,105 shares during the last quarter. Ecofin Ltd. raised its holdings 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 last quarter. Verition Fund Management LLC purchased a new position in shares of Atlantica Yield PLC during the second quarter worth $2,367,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings 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 last quarter. 50.78% of the stock is owned by hedge funds and other institutional investors.

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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