Atlantica Sustainable Infrastructure (NASDAQ:AY) Research Coverage Started at StockNews.com

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

AY has been the topic of several other research reports. National Bank Financial downgraded Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a research note on Wednesday, April 3rd. Seaport Res Ptn downgraded Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. National Bankshares raised their price objective on Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a sector perform rating in a research note on Tuesday, May 28th. UBS Group downgraded Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and dropped their price objective for the stock from $25.00 to $22.00 in a research note on Thursday, May 30th. Finally, BMO Capital Markets raised their price objective on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a market perform rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Stock Up 0.0 %

NASDAQ:AY opened at $22.05 on Thursday. Atlantica Sustainable Infrastructure has a 12-month low of $16.35 and a 12-month high of $25.22. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 3.25. The firm has a market capitalization of $2.56 billion, a P/E ratio of 47.93, a P/E/G ratio of 1.31 and a beta of 1.02. The stock’s fifty day simple moving average is $22.14 and its 200-day simple moving average is $20.19.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. The business had revenue of $242.93 million for the quarter, compared to analyst estimates of $240.87 million. During the same period last year, the company earned ($0.09) EPS. Equities research analysts expect that Atlantica Sustainable Infrastructure will post 0.46 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

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

Institutional Trading of Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of the company. Private Advisor Group LLC increased its position in shares of Atlantica Sustainable Infrastructure by 4.3% in the first quarter. Private Advisor Group LLC now owns 20,918 shares of the utilities provider’s stock valued at $387,000 after acquiring an additional 864 shares during the last quarter. Rational Advisors LLC increased its position in shares of Atlantica Sustainable Infrastructure by 113.8% in the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,025 shares during the last quarter. Covestor Ltd increased its position 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 acquiring an additional 1,064 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Atlantica Sustainable Infrastructure by 4.1% in the first quarter. Commonwealth Equity Services LLC now owns 28,801 shares of the utilities provider’s stock valued at $532,000 after acquiring an additional 1,132 shares during the last quarter. Finally, Sargent Investment Group LLC increased its position in shares of Atlantica Sustainable Infrastructure by 2.9% in the fourth quarter. Sargent Investment Group LLC now owns 42,905 shares of the utilities provider’s stock valued at $922,000 after acquiring an additional 1,205 shares during the last quarter. 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.