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

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

Atlantica Sustainable Infrastructure Stock Down 0.0 %

AY opened at $21.98 on Friday. The business’s fifty day moving average is $22.01 and its two-hundred day moving average is $21.56. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.30 and a current ratio of 1.35. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 2.14 and a beta of 1.03. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $23.47.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $328.26 million for the quarter, compared to analysts’ expectations of $315.07 million. Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. Analysts anticipate that Atlantica Sustainable Infrastructure will post 0.28 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.445 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.78 annualized dividend and a yield of 8.10%. Atlantica Sustainable Infrastructure’s payout ratio is currently 386.96%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several institutional investors have recently added to or reduced their stakes in AY. Point72 Asia Singapore Pte. Ltd. acquired a new position in Atlantica Sustainable Infrastructure in the second quarter valued at $30,000. Riverview Trust Co acquired a new stake in Atlantica Sustainable Infrastructure during the first quarter worth about $42,000. 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. Covestor Ltd increased its stake in Atlantica Sustainable Infrastructure by 12.8% during 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. Finally, Virtu Financial LLC acquired a new stake in Atlantica Sustainable Infrastructure during the first quarter worth about $196,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

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.