Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated by Analysts at StockNews.com

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

Several other analysts have also weighed in on AY. Bank of America dropped their price objective on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a buy rating for the company in a report on Tuesday, March 26th. BMO Capital Markets boosted their target price on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a market perform rating in a research note on Friday, May 10th. Royal Bank of Canada cut their price target on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an outperform rating on the stock in a research note on Monday, March 4th. UBS Group cut shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and reduced their price objective for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. Finally, Seaport Res Ptn lowered Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Atlantica Sustainable Infrastructure presently has an average rating of Hold and an average target price of $22.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY stock opened at $22.03 on Friday. The company has a market capitalization of $2.56 billion, a P/E ratio of 47.89, a P/E/G 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. The stock has a 50 day moving average of $21.61 and a two-hundred day moving average of $20.05. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 3.25.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $242.93 million during 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 last year, the firm earned ($0.09) EPS. As a group, equities analysts expect that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were issued a $0.445 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.08%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 386.96%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds have recently modified their holdings of the stock. Rational Advisors LLC raised its stake in Atlantica Sustainable Infrastructure by 113.8% in the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,025 shares during the period. Riverview Trust Co bought a new position in Atlantica Sustainable Infrastructure during the 1st quarter worth $42,000. Clean Yield Group increased its holdings in shares of 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 purchasing an additional 2,500 shares during the period. Covestor Ltd raised its holdings in Atlantica Sustainable Infrastructure by 12.8% in 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 in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Atlantica Sustainable Infrastructure during the 3rd quarter worth $191,000. Institutional investors own 40.53% of the company’s stock.

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.