Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Given Consensus Rating of “Hold” by Brokerages

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.20.

Separately, StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a research note on Tuesday, December 24th. They set a “sell” rating on the stock.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds have recently made changes to their positions in AY. Alpine Associates Management Inc. grew its position in Atlantica Sustainable Infrastructure by 54.0% in the 3rd quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock valued at $36,542,000 after buying an additional 582,821 shares during the last quarter. Melqart Asset Management UK Ltd increased its stake in shares of Atlantica Sustainable Infrastructure by 4.2% during the third quarter. Melqart Asset Management UK Ltd now owns 1,337,755 shares of the utilities provider’s stock worth $29,404,000 after acquiring an additional 53,680 shares during the period. Westchester Capital Management LLC raised its holdings in Atlantica Sustainable Infrastructure by 305.3% during the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock worth $25,139,000 after purchasing an additional 861,541 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Atlantica Sustainable Infrastructure in the second quarter valued at about $13,719,000. Finally, Glazer Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at approximately $13,629,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Stock Performance

Shares of Atlantica Sustainable Infrastructure stock opened at $21.99 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 3.36. Atlantica Sustainable Infrastructure has a 52 week low of $16.82 and a 52 week high of $23.47. The firm’s 50 day moving average is $22.03 and its two-hundred day moving average is $22.02. The firm has a market capitalization of $2.55 billion, a P/E ratio of 75.83, a P/E/G ratio of 2.14 and a beta of 1.00.

Atlantica Sustainable Infrastructure Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 29th were paid a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend was Friday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 306.91%.

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.