Atlantica Sustainable Infrastructure (NASDAQ:AY) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research report released on Sunday. The firm issued a sell rating on the utilities provider’s stock.

Other equities research analysts also recently issued reports about the company. UBS Group downgraded Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and dropped their target price for the stock from $25.00 to $22.00 in a report on Thursday, May 30th. Seaport Res Ptn downgraded Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. National Bankshares lifted their price objective on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a sector perform rating in a research note on Tuesday, May 28th. Royal Bank of Canada dropped their price objective on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an outperform rating on the stock in a research note on Monday, March 4th. Finally, Bank of America reduced their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a buy rating for the company in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $22.67.

Atlantica Sustainable Infrastructure Stock Down 0.3 %

AY stock opened at $21.92 on Friday. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $25.22. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 3.25. The firm has a market capitalization of $2.54 billion, a PE ratio of 47.65, a PEG ratio of 1.31 and a beta of 1.02. The stock has a 50-day simple moving average of $21.42 and a two-hundred day simple moving average of $20.02.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. The company had revenue of $242.93 million during the quarter, compared to analyst estimates of $240.87 million. During the same period in the prior year, the business posted ($0.09) EPS. On average, equities analysts predict that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.445 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.78 dividend on an annualized basis and a yield of 8.12%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its holdings in Atlantica Sustainable Infrastructure by 110.8% in the 1st quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock valued at $181,595,000 after purchasing an additional 5,164,084 shares in the last quarter. Invesco Ltd. lifted its holdings in Atlantica Sustainable Infrastructure by 1.2% in the 3rd quarter. Invesco Ltd. now owns 2,927,486 shares of the utilities provider’s stock valued at $55,915,000 after purchasing an additional 33,635 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in Atlantica Sustainable Infrastructure by 32.2% in the 3rd quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock valued at $18,916,000 after purchasing an additional 241,417 shares in the last quarter. Norges Bank purchased a new position in Atlantica Sustainable Infrastructure in the 4th quarter valued at $15,487,000. Finally, Deutsche Bank AG lifted its holdings in Atlantica Sustainable Infrastructure by 3.2% in the 3rd quarter. Deutsche Bank AG now owns 714,236 shares of the utilities provider’s stock valued at $13,642,000 after purchasing an additional 22,420 shares in the last quarter. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.