Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Receives $22.67 Average PT from Analysts

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have been assigned an average rating of “Hold” from the ten brokerages that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.67.

Several brokerages have issued reports on AY. UBS Group cut shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $22.00 in a research report on Thursday, May 30th. StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research note on Friday. They issued a “sell” rating on the stock.

Institutional Trading of Atlantica Sustainable Infrastructure

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC raised its stake in Atlantica Sustainable Infrastructure by 110.8% during the 1st quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock worth $181,595,000 after buying an additional 5,164,084 shares during the period. Alpine Associates Management Inc. acquired a new position in shares of Atlantica Sustainable Infrastructure during the second quarter worth approximately $23,699,000. Norges Bank bought a new position in shares of Atlantica Sustainable Infrastructure in the 4th quarter worth $15,487,000. Picton Mahoney Asset Management acquired a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,719,000. Finally, Glazer Capital LLC bought a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter valued at $13,629,000. Institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Trading Down 0.1 %

Shares of AY stock opened at $22.01 on Friday. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $23.47. The stock’s fifty day simple moving average is $22.04 and its 200 day simple moving average is $21.13. The company has a quick ratio of 1.30, a current ratio of 1.35 and a debt-to-equity ratio of 3.26. The firm has a market capitalization of $2.55 billion, a P/E ratio of 47.85, a P/E/G ratio of 2.14 and a beta of 1.03.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). The firm had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. As a group, sell-side analysts predict that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders 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 8.09%. The ex-dividend date of this dividend was Friday, August 30th. Atlantica Sustainable Infrastructure’s payout ratio is 386.96%.

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.