Atlantica Sustainable Infrastructure (NASDAQ:AY) Now Covered by StockNews.com

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

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY stock opened at $21.99 on Wednesday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 75.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.20 and a current ratio of 1.25. Atlantica Sustainable Infrastructure has a one year low of $16.82 and a one year high of $23.47. The company’s 50-day moving average is $22.03 and its 200 day moving average is $22.02.

Atlantica Sustainable Infrastructure Cuts Dividend

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

Institutional Trading of Atlantica Sustainable Infrastructure

Institutional investors have recently made changes to their positions in the business. Water Island Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure during the second quarter valued at $13,438,000. Alpine Associates Management Inc. increased its position in Atlantica Sustainable Infrastructure by 54.0% during the third quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock valued at $36,542,000 after acquiring an additional 582,821 shares during the last quarter. Trium Capital LLP purchased a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at $2,010,000. Melqart Asset Management UK Ltd lifted its holdings in shares of Atlantica Sustainable Infrastructure by 4.2% in the 3rd quarter. Melqart Asset Management UK Ltd now owns 1,337,755 shares of the utilities provider’s stock worth $29,404,000 after acquiring an additional 53,680 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in Atlantica Sustainable Infrastructure during the 3rd quarter valued at about $1,356,000. 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.