Atlantica Sustainable Infrastructure (NASDAQ:AY) Stock Price Up 3.4%

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) shares rose 3.4% on Wednesday . The stock traded as high as $17.74 and last traded at $17.73. Approximately 287,447 shares changed hands during trading, a decline of 67% from the average daily volume of 863,290 shares. The stock had previously closed at $17.15.

Analysts Set New Price Targets

AY has been the subject of several research reports. UBS Group raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $25.00 in a research note on Friday, March 22nd. Bank of America reduced their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. BMO Capital Markets reduced their target price on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday, March 5th. Royal Bank of Canada reduced their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Finally, StockNews.com lowered Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Atlantica Sustainable Infrastructure currently has a consensus rating of “Hold” and an average price target of $23.67.

Atlantica Sustainable Infrastructure Trading Up 0.8 %

The company has a fifty day simple moving average of $18.19 and a two-hundred day simple moving average of $18.91. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57. The company has a market capitalization of $2.13 billion, a P/E ratio of 43.45, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.25. The company had revenue of $241.31 million for the quarter, compared to analyst estimates of $243.81 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same period last year, the company earned $0.03 earnings per share. On average, analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.49 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were issued a $0.445 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 annualized dividend and a yield of 9.68%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AY. FMR LLC lifted its stake in Atlantica Sustainable Infrastructure by 63.6% in the 2nd quarter. FMR LLC now owns 954 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 371 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Atlantica Sustainable Infrastructure by 122.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 550 shares during the last quarter. Point72 Asset Management L.P. bought a new position in Atlantica Sustainable Infrastructure in the 2nd quarter valued at approximately $27,000. Lazard Asset Management LLC lifted its stake in Atlantica Sustainable Infrastructure by 200.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,383 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 922 shares during the last quarter. Finally, Creative Planning bought a new position in Atlantica Sustainable Infrastructure in the 3rd quarter valued at approximately $27,000. Institutional investors and hedge funds 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.