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 research note released on Monday. The firm issued a sell rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on the company. National Bankshares boosted their price target 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. BMO Capital Markets increased their price objective on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a market perform rating in a report on Friday, May 10th. Seaport Res Ptn cut Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Finally, UBS Group downgraded Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and decreased their target price for the stock from $25.00 to $22.00 in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $22.67.

Atlantica Sustainable Infrastructure Trading Down 0.1 %

NASDAQ:AY opened at $22.27 on Monday. The company’s 50 day moving average price is $22.08 and its 200-day moving average price is $20.65. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 3.25. Atlantica Sustainable Infrastructure has a 52 week low of $16.35 and a 52 week high of $23.47. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 48.41, a PEG ratio of 1.32 and a beta of 1.02.

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

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 7.99%. The ex-dividend date is Friday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio is 386.96%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC raised its position in shares of Atlantica Sustainable Infrastructure by 110.8% in the 1st 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. Alpine Associates Management Inc. purchased a new position in Atlantica Sustainable Infrastructure during the 2nd quarter worth $23,699,000. Norges Bank acquired a new position in Atlantica Sustainable Infrastructure during the 4th quarter valued at about $15,487,000. Picton Mahoney Asset Management purchased a new stake in Atlantica Sustainable Infrastructure in the second quarter valued at about $13,719,000. Finally, Glazer Capital LLC acquired a new stake in Atlantica Sustainable Infrastructure in the second quarter worth about $13,629,000. Hedge funds and other 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.