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

Several other research firms have also issued reports on AY. National Bankshares upped their target price 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. Seaport Res Ptn cut Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. BMO Capital Markets raised their target price on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a market perform rating in a research note on Friday, May 10th. Bank of America dropped 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, National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY stock opened at $22.06 on Wednesday. Atlantica Sustainable Infrastructure has a 12 month low of $16.35 and a 12 month high of $25.22. The company’s fifty day simple moving average is $22.20 and its 200-day simple moving average is $20.17. The firm has a market cap of $2.56 billion, a PE ratio of 47.96, a P/E/G ratio of 1.31 and a beta of 1.02. 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 (NASDAQ:AY) last issued its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $242.93 million for the quarter, compared to analyst estimates of $240.87 million. During the same period in the previous year, the business earned ($0.09) EPS. Equities research analysts expect that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a $0.445 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.78 annualized dividend and a dividend yield of 8.07%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG boosted its holdings in shares of Atlantica Sustainable Infrastructure by 3.2% during the third quarter. Deutsche Bank AG now owns 714,236 shares of the utilities provider’s stock worth $13,642,000 after acquiring an additional 22,420 shares during the period. Insight Folios Inc grew its holdings in Atlantica Sustainable Infrastructure by 2.5% in the 4th quarter. Insight Folios Inc now owns 23,000 shares of the utilities provider’s stock valued at $494,000 after buying an additional 566 shares in the last quarter. Abundance Wealth Counselors increased its position in Atlantica Sustainable Infrastructure by 21.1% during the 4th quarter. Abundance Wealth Counselors now owns 26,118 shares of the utilities provider’s stock worth $562,000 after buying an additional 4,558 shares during the period. A. D. Beadell Investment Counsel Inc. lifted its holdings in shares of Atlantica Sustainable Infrastructure by 18.5% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 94,508 shares of the utilities provider’s stock worth $2,031,000 after buying an additional 14,728 shares in the last quarter. Finally, U S Global Investors Inc. bought a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $376,000. 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.