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 report published on Friday morning. The firm issued a sell rating on the utilities provider’s stock.

A number of other research analysts have also commented on AY. National Bankshares upped their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a sector perform rating in a research note on Tuesday, May 28th. BMO Capital Markets upped their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a market perform rating in a report on Friday, May 10th. Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Finally, UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and cut their price target 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 issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $22.67.

Atlantica Sustainable Infrastructure Stock Down 0.7 %

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

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data 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). Atlantica Sustainable Infrastructure had a return on equity of 2.50% and a net margin of 3.59%. The firm had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. Sell-side analysts anticipate 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. Stockholders of record on Friday, August 30th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 8.09%. The ex-dividend date is Friday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 386.96%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Large investors have recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in 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 worth $181,595,000 after acquiring an additional 5,164,084 shares in the last quarter. Norges Bank bought a new position in Atlantica Sustainable Infrastructure during the fourth quarter worth $15,487,000. Picton Mahoney Asset Management bought a new position in Atlantica Sustainable Infrastructure during the second quarter worth $13,719,000. Beck Bode LLC boosted its stake in Atlantica Sustainable Infrastructure by 30.9% during the first quarter. Beck Bode LLC now owns 609,940 shares of the utilities provider’s stock worth $11,272,000 after acquiring an additional 143,996 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its stake in 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 worth $9,642,000 after acquiring an additional 261,825 shares in the last quarter. 40.53% of the stock is currently owned by institutional investors and hedge funds.

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.