Atlantica Sustainable Infrastructure (NASDAQ:AY) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research report report published on Saturday. The brokerage issued a sell rating on the utilities provider’s stock.

Other analysts also recently issued research reports about the stock. UBS Group downgraded shares of 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 report on Thursday, May 30th. National Bankshares upped 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 downgraded shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Finally, BMO Capital Markets lifted their price target on 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $22.67.

Atlantica Sustainable Infrastructure Price Performance

NASDAQ AY remained flat at $22.11 during trading hours on Friday. The company’s stock had a trading volume of 845,010 shares, compared to its average volume of 1,312,554. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. The firm has a market capitalization of $2.57 billion, a price-to-earnings ratio of 48.07, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company’s 50-day simple moving average is $22.02 and its 200 day simple moving average is $20.35. Atlantica Sustainable Infrastructure has a 12 month low of $16.35 and a 12 month high of $23.57.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its earnings results 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 business had revenue of $328.26 million during the quarter, compared to analysts’ expectations of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.50%. On average, equities research analysts predict that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.05%. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 386.96%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rational Advisors LLC boosted its position in shares of Atlantica Sustainable Infrastructure by 113.8% in the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,025 shares during the period. Riverview Trust Co acquired a new position in Atlantica Sustainable Infrastructure during the first quarter worth $42,000. Headlands Technologies LLC grew its stake in Atlantica Sustainable Infrastructure by 499.4% in the 2nd quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock valued at $90,000 after buying an additional 3,411 shares during the last quarter. Covestor Ltd boosted its stake in Atlantica Sustainable Infrastructure by 12.8% during the 1st quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 1,064 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Atlantica Sustainable Infrastructure in the 1st quarter valued at approximately $196,000. Institutional investors and hedge funds 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.