Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Stock Position Raised by Kennedy Capital Management LLC

Kennedy Capital Management LLC raised its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 5.7% in the first quarter, Holdings Channel reports. The firm owned 137,876 shares of the utilities provider’s stock after buying an additional 7,493 shares during the period. Kennedy Capital Management LLC’s holdings in Atlantica Sustainable Infrastructure were worth $2,548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AY. Robeco Institutional Asset Management B.V. acquired a new position in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at about $27,000. Rational Advisors LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 113.8% during the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,025 shares during the last quarter. Riverview Trust Co acquired a new position in shares of Atlantica Sustainable Infrastructure during the 1st quarter valued at about $42,000. Clean Yield Group increased its holdings in shares of Atlantica Sustainable Infrastructure by 71.4% during the 4th quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock valued at $129,000 after acquiring an additional 2,500 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of 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 acquiring an additional 1,064 shares during the last quarter. 40.53% of the stock is owned by hedge funds and other institutional investors.

Atlantica Sustainable Infrastructure Price Performance

Shares of Atlantica Sustainable Infrastructure stock traded up $0.03 during midday trading on Wednesday, hitting $22.13. 127,139 shares of the company were exchanged, compared to its average volume of 1,316,564. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.55 and a quick ratio of 1.50. The firm has a market cap of $2.57 billion, a P/E ratio of 48.04, a PEG ratio of 1.31 and a beta of 1.02. Atlantica Sustainable Infrastructure plc has a 52 week low of $16.35 and a 52 week high of $25.17. The firm has a 50 day simple moving average of $22.12 and a 200-day simple moving average of $20.22.

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

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a $0.445 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.78 annualized dividend and a dividend yield of 8.04%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently 386.96%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets raised their target price on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Friday, May 10th. StockNews.com initiated coverage on Atlantica Sustainable Infrastructure in a report on Thursday, July 25th. They set a “sell” rating on the stock. National Bankshares lifted their price objective on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 28th. Seaport Res Ptn lowered Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, UBS Group lowered Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $22.00 in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.67.

Atlantica Sustainable Infrastructure 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.