Atlantica Sustainable Infrastructure (NASDAQ:AY) Now Covered by Analysts at StockNews.com

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

AY has been the subject of a number of other reports. National Bankshares lifted their target price on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a sector perform rating in a research note on Tuesday, May 28th. BMO Capital Markets increased their target price on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a market perform rating in a research report on Friday, May 10th. UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and reduced their price target for the company from $25.00 to $22.00 in a report on Thursday, May 30th. Finally, Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY opened at $22.13 on Friday. The stock has a market capitalization of $2.57 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The business’s fifty day moving average price is $22.03 and its 200 day moving average price is $20.46. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.55 and a quick ratio of 1.50. Atlantica Sustainable Infrastructure has a 12-month low of $16.35 and a 12-month high of $23.57.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a return on equity of 2.50% and a net margin of 3.59%. The business had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. Equities research analysts forecast that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.78 annualized dividend and a yield of 8.04%. Atlantica Sustainable Infrastructure’s payout ratio is 386.96%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several large investors have recently bought and sold shares of AY. Waterloo Capital L.P. acquired a new stake in Atlantica Sustainable Infrastructure in the 4th quarter valued at about $1,995,000. Handelsbanken Fonder AB increased its holdings in shares of Atlantica Sustainable Infrastructure by 9.5% in the fourth quarter. Handelsbanken Fonder AB now owns 17,676 shares of the utilities provider’s stock valued at $380,000 after buying an additional 1,537 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at $1,138,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Atlantica Sustainable Infrastructure during the 4th quarter worth $27,000. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 1st quarter worth $1,815,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

About Atlantica Sustainable Infrastructure

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.