Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated by Analysts at StockNews.com

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

A number of other equities research analysts also recently weighed in on the stock. UBS Group downgraded shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and lowered their target price for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. BMO Capital Markets lifted their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a market perform rating in a research note on Friday, May 10th. Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a research note on Wednesday, April 3rd. Finally, National Bankshares lifted their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a sector perform rating in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Atlantica Sustainable Infrastructure has a consensus rating of Hold and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY opened at $21.91 on Monday. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 3.25. The firm has a market capitalization of $2.54 billion, a PE ratio of 47.63, a P/E/G ratio of 1.31 and a beta of 1.02. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $25.22. The company has a 50-day moving average price of $21.91 and a two-hundred day moving average price of $20.10.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. The company had revenue of $242.93 million during the quarter, compared to analyst estimates of $240.87 million. During the same period last year, the business earned ($0.09) earnings per share. Equities analysts forecast that Atlantica Sustainable Infrastructure will post 0.46 EPS for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 8.12%. The ex-dividend date of this dividend was Friday, May 31st. Atlantica Sustainable Infrastructure’s payout ratio is 386.96%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of hedge funds have recently bought and sold shares of the company. Insight Folios Inc raised its position in Atlantica Sustainable Infrastructure by 2.5% in the 4th quarter. Insight Folios Inc now owns 23,000 shares of the utilities provider’s stock worth $494,000 after buying an additional 566 shares during the last quarter. Private Advisor Group LLC raised its position in Atlantica Sustainable Infrastructure by 4.3% in the 1st quarter. Private Advisor Group LLC now owns 20,918 shares of the utilities provider’s stock worth $387,000 after buying an additional 864 shares during the last quarter. Rational Advisors LLC raised its position in Atlantica Sustainable Infrastructure by 113.8% in the 1st quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,025 shares during the last quarter. Covestor Ltd raised its position in Atlantica Sustainable Infrastructure by 12.8% in the 1st quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock worth $173,000 after buying an additional 1,064 shares during the last quarter. Finally, Commonwealth Equity Services LLC raised its position in Atlantica Sustainable Infrastructure by 4.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 28,801 shares of the utilities provider’s stock worth $532,000 after buying an additional 1,132 shares during the last quarter. 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.