StockNews.com Begins Coverage on Atlantica Sustainable Infrastructure (NASDAQ:AY)

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

Atlantica Sustainable Infrastructure Stock Performance

AY stock opened at $21.99 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 3.36. Atlantica Sustainable Infrastructure has a twelve month low of $16.82 and a twelve month high of $23.47. The company has a market cap of $2.55 billion, a P/E ratio of 75.83, a PEG ratio of 2.14 and a beta of 1.00. The business has a fifty day moving average of $22.03 and a 200-day moving average of $22.02.

Atlantica Sustainable Infrastructure Cuts Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in Atlantica Sustainable Infrastructure in the second quarter valued at approximately $30,000. Public Employees Retirement System of Ohio bought a new stake in shares of Atlantica Sustainable Infrastructure in the 3rd quarter valued at $44,000. Private Trust Co. NA raised its stake in 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 worth $56,000 after buying an additional 1,995 shares during the period. Headlands Technologies LLC lifted its holdings 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 in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Atlantica Sustainable Infrastructure by 433.5% in the third quarter. BNP Paribas Financial Markets now owns 7,463 shares of the utilities provider’s stock valued at $164,000 after acquiring an additional 6,064 shares during the period. Institutional investors and hedge funds own 40.53% of the company’s stock.

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.