Atlantica Yield (AY) Declares $0.44 Dividend

Atlantica Yield said on February 28, 2023 that its board of directors declared a regular quarterly dividend of $0.44 per share ($1.78 annualized). Previously, the company paid $0.44 per share.

Shares must be purchased before the ex-div date of March 13, 2023 to qualify for the dividend. Shareholders of record as of March 14, 2023 will receive the payment on March 25, 2023.

At the current share price of $26.94 / share, the stock's dividend yield is 6.61%. Looking back five years and taking a sample every week, the average dividend yield has been 5.96%, the lowest has been 3.67%, and the highest has been 8.68%. The standard deviation of yields is 1.03 (n=236).

The current dividend yield is 0.62 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -37.95. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 26.46% Upside

As of March 3, 2023, the average one-year price target for Atlantica Yield is $34.07. The forecasts range from a low of $29.29 to a high of $45.15. The average price target represents an increase of 26.46% from its latest reported closing price of $26.94.

The projected annual revenue for Atlantica Yield is $1,270MM, an increase of 7.37%. The projected annual non-GAAP EPS is $0.54.

What is the Fund Sentiment?

There are 303 funds or institutions reporting positions in Atlantica Yield. This is a decrease of 4 owner(s) or 1.30% in the last quarter. Average portfolio weight of all funds dedicated to AY is 0.38%, a decrease of 5.96%. Total shares owned by institutions increased in the last three months by 7.59% to 56,933K shares. The put/call ratio of AY is 0.54, indicating a bullish outlook.

What are large shareholders doing?

Kayne Anderson Capital Advisors holds 4,339K shares representing 3.74% ownership of the company. In it's prior filing, the firm reported owning 3,534K shares, representing an increase of 18.56%. The firm decreased its portfolio allocation in AY by 7.11% over the last quarter.

Wellington Management Group Llp holds 4,181K shares representing 3.60% ownership of the company. In it's prior filing, the firm reported owning 3,704K shares, representing an increase of 11.40%. The firm decreased its portfolio allocation in AY by 99.99% over the last quarter.

Ameriprise Financial holds 3,767K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 3,541K shares, representing an increase of 6.01%. The firm increased its portfolio allocation in AY by 0.01% over the last quarter.

Invesco holds 3,656K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 3,308K shares, representing an increase of 9.50%. The firm decreased its portfolio allocation in AY by 99.99% over the last quarter.

VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 2,523K shares representing 2.17% ownership of the company. No change in the last quarter.

Atlantica Sustainable Infrastructure Background Information
(This description is provided by the company.)

Atlantica Sustainable Infrastructure plc is a sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy, efficient natural gas, electric transmission and water assets in North and South America, and certain markets in EMEA.

This story originally appeared on Fintel.