Analysts Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) PT at $22.67

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been assigned a consensus recommendation of “Hold” from the ten analysts that are currently covering the stock, MarketBeat.com reports. Eight analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $22.67.

Several research analysts have recently issued reports on AY shares. Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. BMO Capital Markets upped their price objective on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. StockNews.com started coverage on Atlantica Sustainable Infrastructure in a report on Monday, August 26th. They issued a “sell” rating for the company. National Bankshares upped their price target on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a report on Tuesday, May 28th. Finally, UBS Group downgraded Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $22.00 in a report on Thursday, May 30th.

Atlantica Sustainable Infrastructure Stock Down 2.1 %

AY stock opened at $21.81 on Monday. The business has a 50 day moving average of $22.07 and a 200 day moving average of $20.70. The firm has a market cap of $2.53 billion, a PE ratio of 47.41, a price-to-earnings-growth ratio of 1.39 and a beta of 1.02. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $23.47. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 3.26.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. The company had revenue of $328.26 million during the quarter, compared to analysts’ expectations of $315.07 million. On average, research analysts forecast that Atlantica Sustainable Infrastructure will post 0.43 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors 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 dividend on an annualized basis and a dividend yield of 8.16%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 386.96%.

Institutional Trading of Atlantica Sustainable Infrastructure

Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in shares of Atlantica Sustainable Infrastructure by 110.8% in the first quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock worth $181,595,000 after buying an additional 5,164,084 shares in the last quarter. Alpine Associates Management Inc. purchased a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter worth $23,699,000. Norges Bank bought a new position in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at about $15,487,000. Picton Mahoney Asset Management purchased a new position in shares of Atlantica Sustainable Infrastructure during the second quarter valued at about $13,719,000. Finally, Glazer Capital LLC bought a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter worth about $13,629,000. 40.53% of the stock is owned by hedge funds and other institutional investors.

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.