Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Receives $22.67 Consensus Price Target from Brokerages

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been assigned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $22.67.

AY has been the topic of several analyst reports. UBS Group cut shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $22.00 in a report on Thursday, May 30th. StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure in a research report on Friday. They set a “sell” rating on the stock.

Atlantica Sustainable Infrastructure Stock Performance

Shares of Atlantica Sustainable Infrastructure stock opened at $22.01 on Friday. Atlantica Sustainable Infrastructure has a 52 week low of $16.35 and a 52 week high of $23.47. 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 business has a 50 day moving average price of $22.04 and a 200-day moving average price of $21.13. The company has a market cap of $2.55 billion, a PE ratio of 47.85, a price-to-earnings-growth ratio of 2.14 and a beta of 1.03.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings data 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). Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. The company had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. Equities analysts anticipate that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a dividend of $0.445 per share. The ex-dividend date was Friday, August 30th. This represents a $1.78 annualized dividend and a dividend yield of 8.09%. Atlantica Sustainable Infrastructure’s payout ratio is currently 386.96%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC lifted its holdings in Atlantica Sustainable Infrastructure by 110.8% during the first 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 last quarter. Alpine Associates Management Inc. purchased a new position in shares of Atlantica Sustainable Infrastructure in the second quarter worth about $23,699,000. Norges Bank bought a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at approximately $15,487,000. Picton Mahoney Asset Management purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 2nd quarter valued at approximately $13,719,000. Finally, Glazer Capital LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 2nd quarter valued at approximately $13,629,000. Institutional investors 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.