Brokerages Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) PT at $22.67

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $22.67.

Several equities research analysts recently issued reports on the stock. National Bankshares raised their target price on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 28th. Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. BMO Capital Markets lifted their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Friday, May 10th. Bank of America reduced their price target on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Finally, UBS Group cut shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $22.00 in a research report on Thursday, May 30th.

Atlantica Sustainable Infrastructure Price Performance

AY opened at $21.99 on Friday. The company’s 50 day simple moving average is $22.17 and its 200 day simple moving average is $20.14. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. Atlantica Sustainable Infrastructure has a 1 year low of $16.35 and a 1 year high of $25.22. The stock has a market capitalization of $2.55 billion, a PE ratio of 47.87, a P/E/G ratio of 1.31 and a beta of 1.02.

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

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were given a dividend of $0.445 per share. 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 8.09%. Atlantica Sustainable Infrastructure’s payout ratio is currently 386.96%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Atlantica Sustainable Infrastructure in the second quarter valued at $2,195,000. Bright Futures Wealth Management LLC. acquired a new stake in Atlantica Sustainable Infrastructure in the first quarter valued at $236,000. Cetera Advisors LLC raised its holdings in Atlantica Sustainable Infrastructure by 58.3% in the first quarter. Cetera Advisors LLC now owns 16,775 shares of the utilities provider’s stock valued at $310,000 after acquiring an additional 6,177 shares in the last quarter. Beck Bode LLC raised its holdings in Atlantica Sustainable Infrastructure by 30.9% in the first quarter. Beck Bode LLC now owns 609,940 shares of the utilities provider’s stock valued at $11,272,000 after acquiring an additional 143,996 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Atlantica Sustainable Infrastructure in the first quarter valued at $4,103,000. 40.53% of the stock is 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.