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

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

Atlantica Sustainable Infrastructure Stock Performance

Shares of Atlantica Sustainable Infrastructure stock opened at $21.99 on Wednesday. The firm’s 50 day simple moving average is $22.04 and its two-hundred day simple moving average is $22.02. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 75.83, a PEG ratio of 2.14 and a beta of 1.00. Atlantica Sustainable Infrastructure has a 12-month low of $16.82 and a 12-month high of $23.47. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36.

Atlantica Sustainable Infrastructure Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 29th were issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend was Friday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 306.91%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AY. Point72 Asia Singapore Pte. Ltd. purchased a new position in Atlantica Sustainable Infrastructure in the 2nd quarter valued at about $30,000. Public Employees Retirement System of Ohio purchased a new position in Atlantica Sustainable Infrastructure during the third quarter worth about $44,000. Private Trust Co. NA raised its position in shares of Atlantica Sustainable Infrastructure by 362.1% during the 3rd quarter. Private Trust Co. NA now owns 2,546 shares of the utilities provider’s stock valued at $56,000 after buying an additional 1,995 shares during the period. Headlands Technologies LLC increased its stake in Atlantica Sustainable Infrastructure by 499.4% during the second quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock worth $90,000 after acquiring an additional 3,411 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Atlantica Sustainable Infrastructure by 433.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,463 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 6,064 shares during the last quarter. Hedge funds and other 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.