Atlantica Sustainable Infrastructure plc (NASDAQ:AY) to Issue Quarterly Dividend of $0.45

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.445 per share by the utilities provider on Monday, September 16th. This represents a $1.78 annualized dividend and a dividend yield of 8.04%. The ex-dividend date of this dividend is Friday, August 30th.

Atlantica Sustainable Infrastructure has raised its dividend by an average of 2.4% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Atlantica Sustainable Infrastructure has a dividend payout ratio of 273.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Atlantica Sustainable Infrastructure to earn $0.55 per share next year, which means the company may not be able to cover its $1.78 annual dividend with an expected future payout ratio of 323.6%.

Atlantica Sustainable Infrastructure Stock Up 0.0 %

Shares of Atlantica Sustainable Infrastructure stock opened at $22.15 on Friday. The business has a 50-day moving average of $22.06 and a 200-day moving average of $20.26. 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 company has a market capitalization of $2.57 billion, a PE ratio of 48.15, a P/E/G ratio of 1.32 and a beta of 1.02. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $23.57.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). The business had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.50%. As a group, equities analysts forecast that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in 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 research note on Friday, May 10th. UBS Group downgraded Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research note on Friday. They issued a “sell” rating for the company. National Bankshares lifted their price target on 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. Finally, Seaport Res Ptn downgraded Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and a consensus price target of $22.67.

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.