StockNews.com Begins Coverage on Atlantica Sustainable Infrastructure (NASDAQ:AY)

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

AY has been the topic of a number of other research reports. National Bankshares upped their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a sector perform rating in a research note on Tuesday, May 28th. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a research note on Wednesday, April 3rd. UBS Group cut shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and dropped their price target for the stock from $25.00 to $22.00 in a research note on Thursday, May 30th. BMO Capital Markets upped their target price on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a market perform rating in a research note on Friday, May 10th. Finally, Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average price target of $22.67.

Atlantica Sustainable Infrastructure Stock Up 0.0 %

Shares of Atlantica Sustainable Infrastructure stock opened at $22.05 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 3.25. The company’s fifty day simple moving average is $22.14 and its two-hundred day simple moving average is $20.20. The company has a market cap of $2.56 billion, a P/E ratio of 47.93, a PEG ratio of 1.31 and a beta of 1.02. Atlantica Sustainable Infrastructure has a 12-month low of $16.35 and a 12-month high of $25.22.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $242.93 million for the quarter, compared to the consensus estimate of $240.87 million. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. During the same period in the prior year, the firm earned ($0.09) EPS. Research analysts anticipate that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 8.07%. The ex-dividend date was Friday, May 31st. Atlantica Sustainable Infrastructure’s dividend payout ratio is 386.96%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Several institutional investors and hedge funds have recently modified their holdings of AY. Robeco Institutional Asset Management B.V. purchased a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at $27,000. Rational Advisors LLC boosted its stake in Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,025 shares during the period. Riverview Trust Co purchased a new position in Atlantica Sustainable Infrastructure during the first quarter worth $42,000. Clean Yield Group boosted its stake in Atlantica Sustainable Infrastructure by 71.4% during the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after buying an additional 2,500 shares during the period. Finally, Covestor Ltd boosted its stake in Atlantica Sustainable Infrastructure by 12.8% during the first quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock worth $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.