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

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

Atlantica Sustainable Infrastructure Stock Performance

AY opened at $21.99 on Wednesday. Atlantica Sustainable Infrastructure has a 12 month low of $16.82 and a 12 month high of $23.47. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 75.83, a PEG ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.25 and a quick ratio of 1.20. The business has a fifty day moving average price of $22.04 and a 200 day moving average price of $22.02.

Atlantica Sustainable Infrastructure Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.05%. Atlantica Sustainable Infrastructure’s payout ratio is currently 306.91%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Institutional investors have recently added to or reduced their stakes in the business. Alpine Associates Management Inc. acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $23,699,000. Westchester Capital Management LLC lifted its holdings in Atlantica Sustainable Infrastructure by 305.3% in the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock valued at $25,139,000 after acquiring an additional 861,541 shares during the period. Glazer Capital LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at about $13,629,000. Water Island Capital LLC acquired a new position in Atlantica Sustainable Infrastructure during the second quarter worth about $13,438,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in Atlantica Sustainable Infrastructure in the 3rd quarter valued at approximately $5,385,000. Hedge funds and other institutional investors 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.