Brokerages Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Target Price at $22.67

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have been given an average recommendation of “Hold” by the ten ratings firms that are presently covering the company, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $22.67.

AY has been the subject of a number of analyst reports. National Bankshares raised 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. Seaport Res Ptn lowered Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. UBS Group lowered Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $25.00 to $22.00 in a research note on Thursday, May 30th. Finally, StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure in a research note on Thursday. They issued a “sell” rating on the stock.

Atlantica Sustainable Infrastructure Stock Up 0.4 %

NASDAQ AY opened at $21.97 on Friday. The stock has a 50 day moving average price of $22.04 and a 200-day moving average price of $21.07. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $23.47. The company has a market capitalization of $2.55 billion, a P/E ratio of 47.76, a P/E/G ratio of 2.13 and a beta of 1.03. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.30 and a current ratio of 1.35.

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

Atlantica Sustainable Infrastructure Announces Dividend

The company 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 was Friday, August 30th. This represents a $1.78 annualized dividend and a yield of 8.10%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently 386.96%.

Institutional Trading of Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently modified their holdings of AY. Point72 Asia Singapore Pte. Ltd. bought a new position in Atlantica Sustainable Infrastructure during the second quarter worth about $30,000. Water Island Capital LLC bought a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at approximately $13,438,000. Aristeia Capital L.L.C. acquired a new stake in Atlantica Sustainable Infrastructure during the second quarter worth approximately $669,000. Glazer Capital LLC acquired a new stake in Atlantica Sustainable Infrastructure during the second quarter worth approximately $13,629,000. Finally, Sagefield Capital LP bought a new position in Atlantica Sustainable Infrastructure during the 2nd quarter worth $1,637,000. 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.