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

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

A number of other equities research analysts have also issued reports on the stock. BMO Capital Markets upped 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. UBS Group lowered shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and dropped their price target for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. Seaport Res Ptn cut shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Finally, National Bankshares increased their price objective on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a sector perform rating in a report on Tuesday, May 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $22.67.

Atlantica Sustainable Infrastructure Stock Up 0.3 %

Shares of Atlantica Sustainable Infrastructure stock opened at $22.22 on Friday. The company has a fifty day moving average price of $22.04 and a 200 day moving average price of $20.51. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 3.25. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $23.57. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 48.30, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $328.26 million during the quarter, compared to analysts’ expectations of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.50%. Equities research analysts forecast that Atlantica Sustainable Infrastructure will post 0.46 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.78 annualized dividend and a dividend yield of 8.01%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently 386.96%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. bought a new position in Atlantica Sustainable Infrastructure during the 2nd quarter valued at about $30,000. Rational Advisors LLC raised its stake 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 worth $36,000 after acquiring an additional 1,025 shares during the last quarter. Riverview Trust Co bought a new position in shares of Atlantica Sustainable Infrastructure in the first quarter worth about $42,000. Headlands Technologies LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 499.4% in 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, Covestor Ltd raised its stake 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 worth $173,000 after acquiring an additional 1,064 shares during the last quarter. 40.53% of the stock is owned by institutional investors.

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.