StockNews.com Begins Coverage on Atlantica Sustainable Infrastructure (NASDAQ:AY)

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

Separately, UBS Group lowered shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and lowered their price target for the company from $25.00 to $22.00 in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure currently has a consensus rating of Hold and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY opened at $22.03 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The firm has a market cap of $2.56 billion, a PE ratio of 47.89, a P/E/G ratio of 2.14 and a beta of 1.03. Atlantica Sustainable Infrastructure has a 12 month low of $16.35 and a 12 month high of $23.47. The stock has a fifty day moving average price of $22.04 and a 200-day moving average price of $21.19.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted 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). Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. The company had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. Equities research analysts predict that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.08%. The ex-dividend date of this dividend was Friday, August 30th. Atlantica Sustainable Infrastructure’s payout ratio is 386.96%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at about $30,000. Riverview Trust Co purchased a new stake in shares of Atlantica Sustainable Infrastructure in the 1st quarter valued at approximately $42,000. Headlands Technologies LLC raised its position in shares of Atlantica Sustainable Infrastructure by 499.4% during 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 period. Covestor Ltd raised its position in shares of 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 buying an additional 1,064 shares during the period. Finally, Virtu Financial LLC acquired a new position in Atlantica Sustainable Infrastructure in the first quarter valued at approximately $196,000. 40.53% of the stock is owned by hedge funds and other institutional investors.

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.