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

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

AY has been the topic of several other reports. BMO Capital Markets upped their price target 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. 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 research report on Tuesday, May 28th. Seaport Res Ptn cut Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Finally, UBS Group cut Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and decreased their price target for the company from $25.00 to $22.00 in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $22.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY opened at $21.99 on Friday. The company’s 50-day moving average is $22.06 and its 200 day moving average is $20.26. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. The company has a market capitalization of $2.55 billion, a P/E ratio of 48.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $23.57.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly 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). The company had revenue of $328.26 million during the quarter, compared to analysts’ expectations of $315.07 million. Atlantica Sustainable Infrastructure had a return on equity of 2.50% and a net margin of 3.59%. On average, equities research analysts forecast that Atlantica Sustainable Infrastructure will post 0.46 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.445 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.78 dividend on an annualized basis and a yield of 8.09%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 386.96%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 110.8% during the first quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock valued at $181,595,000 after acquiring an additional 5,164,084 shares in the last quarter. Norges Bank bought a new position in shares of Atlantica Sustainable Infrastructure during the fourth quarter valued at $15,487,000. Picton Mahoney Asset Management bought a new position in shares of Atlantica Sustainable Infrastructure during the second quarter valued at $13,719,000. Beck Bode LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 30.9% during the first quarter. Beck Bode LLC now owns 609,940 shares of the utilities provider’s stock valued at $11,272,000 after acquiring an additional 143,996 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings in shares of Atlantica Sustainable Infrastructure by 140.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock valued at $9,642,000 after acquiring an additional 261,825 shares in the last quarter. 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.