Atlantica Sustainable Infrastructure (NASDAQ:AY) Earns Sell Rating from Analysts at StockNews.com

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

Several other research firms have also recently commented on AY. National Bankshares lifted their target price on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a sector perform rating in a research note 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. Finally, UBS Group cut 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 research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Atlantica Sustainable Infrastructure presently has a consensus rating of Hold and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Trading Up 0.1 %

AY stock opened at $21.93 on Wednesday. The business has a fifty day moving average price of $22.05 and a 200 day moving average price of $20.88. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $23.47. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 47.67, a P/E/G ratio of 2.13 and a beta of 1.03. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.35 and a quick ratio of 1.30.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released 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 firm had revenue of $328.26 million during the quarter, compared to analyst estimates of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. Analysts expect that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a $0.445 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.78 annualized dividend and a dividend yield of 8.12%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AY. Robeco Institutional Asset Management B.V. bought a new position in Atlantica Sustainable Infrastructure during the fourth quarter worth about $27,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Atlantica Sustainable Infrastructure during the second quarter worth about $30,000. Riverview Trust Co bought a new position in Atlantica Sustainable Infrastructure during the first quarter worth about $42,000. Headlands Technologies LLC lifted its holdings in shares of Atlantica Sustainable Infrastructure by 499.4% in the second quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 3,411 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Atlantica Sustainable Infrastructure by 12.8% in the first 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 in the last quarter. 40.53% of the stock is currently owned by institutional investors.

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.