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 published on Tuesday morning. The firm issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Stock Performance

Atlantica Sustainable Infrastructure stock opened at $21.99 on Tuesday. Atlantica Sustainable Infrastructure has a 1 year low of $16.82 and a 1 year high of $23.47. The company’s 50-day moving average is $22.03 and its two-hundred day moving average is $22.02. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. The company has a market cap of $2.55 billion, a PE ratio of 75.83, a PEG ratio of 2.14 and a beta of 1.00.

Atlantica Sustainable Infrastructure Cuts Dividend

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

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management bought a new stake in Atlantica Sustainable Infrastructure in the second quarter valued at approximately $13,719,000. Consolidated Portfolio Review Corp raised its stake in Atlantica Sustainable Infrastructure by 17.1% during the 2nd quarter. Consolidated Portfolio Review Corp now owns 24,773 shares of the utilities provider’s stock worth $544,000 after buying an additional 3,611 shares during the period. Wolverine Asset Management LLC bought a new position in Atlantica Sustainable Infrastructure during the second quarter worth about $551,000. Trium Capital LLP acquired a new position in Atlantica Sustainable Infrastructure in the second quarter valued at about $2,010,000. Finally, Headlands Technologies LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 499.4% in 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 in the last quarter. Institutional investors and hedge funds 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.