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

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

AY has been the topic of several other research reports. Royal Bank of Canada lowered their price target on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an outperform rating on the stock in a report on Monday, March 4th. BMO Capital Markets boosted 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 reduced their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a buy rating on the stock in a research note on Tuesday, March 26th. Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. Finally, National Bankshares boosted their target price on shares of 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. One investment 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 data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $22.67.

Atlantica Sustainable Infrastructure Trading Up 0.1 %

Shares of Atlantica Sustainable Infrastructure stock opened at $22.03 on Friday. The firm has a market capitalization of $2.56 billion, a PE ratio of 47.89, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.55 and a quick ratio of 1.50. The company’s fifty day moving average price is $20.73 and its two-hundred day moving average price is $19.84. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $25.22.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced 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. The firm had revenue of $242.93 million for the quarter, compared to analyst estimates of $240.87 million. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. During the same quarter in the previous year, the firm posted ($0.09) EPS. On average, analysts expect that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.445 per share. The ex-dividend date is Friday, May 31st. This represents a $1.78 annualized dividend and a yield of 8.08%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 386.96%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its position 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 valued at $181,595,000 after purchasing an additional 5,164,084 shares during the period. Norges Bank acquired a new position in Atlantica Sustainable Infrastructure during the 4th quarter valued at about $15,487,000. Westwood Holdings Group Inc. lifted its position in Atlantica Sustainable Infrastructure by 140.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock valued at $9,642,000 after purchasing an additional 261,825 shares during the period. Advisors Capital Management LLC lifted its position in Atlantica Sustainable Infrastructure by 32.2% during the 3rd quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock valued at $18,916,000 after purchasing an additional 241,417 shares during the period. Finally, Swedbank AB acquired a new position in Atlantica Sustainable Infrastructure during the 1st quarter valued at about $4,103,000. 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.