Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated by Analysts at StockNews.com

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

Other analysts have also issued reports about the company. National Bankshares boosted their price objective 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. UBS Group lowered Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and dropped their price target for the company from $25.00 to $22.00 in a research report on Thursday, May 30th. Finally, Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure currently has an average rating of Hold and an average price target of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Atlantica Sustainable Infrastructure stock opened at $21.97 on Thursday. Atlantica Sustainable Infrastructure has a 52 week low of $16.35 and a 52 week high of $23.47. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The stock has a market cap of $2.55 billion, a P/E ratio of 47.76, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03. The stock has a 50 day moving average of $22.04 and a 200-day moving average of $21.05.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The company had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. On average, analysts expect that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 8.10%. The ex-dividend date was Friday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 386.96%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. bought a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter worth $27,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Atlantica Sustainable Infrastructure in the second quarter worth about $30,000. Riverview Trust Co acquired a new stake in Atlantica Sustainable Infrastructure in the first quarter worth about $42,000. Headlands Technologies LLC grew its position in Atlantica Sustainable Infrastructure by 499.4% in the 2nd quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock valued at $90,000 after buying an additional 3,411 shares in the last quarter. Finally, Covestor Ltd increased its stake in Atlantica Sustainable Infrastructure by 12.8% during the 1st quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after buying an additional 1,064 shares during the period. Institutional investors 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.