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

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

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ:AY opened at $21.97 on Friday. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.25 and a quick ratio of 1.20. The firm has a market cap of $2.55 billion, a PE ratio of 75.76, a P/E/G ratio of 2.13 and a beta of 1.00. The firm has a 50 day simple moving average of $22.03 and a 200-day simple moving average of $22.05. Atlantica Sustainable Infrastructure has a 1-year low of $16.82 and a 1-year high of $23.47.

Atlantica Sustainable Infrastructure Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 29th will be paid a $0.2225 dividend. This represents a $0.89 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 306.90%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

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