Traders Buy Large Volume of Call Options on Atlantica Sustainable Infrastructure (NASDAQ:AY)

Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Get Rating) was the target of unusually large options trading activity on Friday. Investors bought 40,435 call options on the company. This is an increase of approximately 13,795% compared to the typical daily volume of 291 call options.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Institutional investors and hedge funds have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP boosted its position in shares of Atlantica Sustainable Infrastructure by 22.8% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 4,339,482 shares of the utilities provider’s stock valued at $112,393,000 after acquiring an additional 805,598 shares during the period. Invesco Ltd. boosted its position in shares of Atlantica Sustainable Infrastructure by 23.9% in the first quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock valued at $109,577,000 after acquiring an additional 601,826 shares during the period. Norges Bank bought a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $15,149,000. Millennium Management LLC boosted its position in shares of Atlantica Sustainable Infrastructure by 200.4% in the fourth quarter. Millennium Management LLC now owns 744,018 shares of the utilities provider’s stock valued at $19,270,000 after acquiring an additional 496,383 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of Atlantica Sustainable Infrastructure by 50.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,260,455 shares of the utilities provider’s stock valued at $32,646,000 after acquiring an additional 422,300 shares during the period. 39.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on AY. StockNews.com upgraded shares of Atlantica Sustainable Infrastructure from a “sell” rating to a “hold” rating in a report on Tuesday, December 6th. TheStreet downgraded shares of Atlantica Sustainable Infrastructure from a “c-” rating to a “d+” rating in a report on Tuesday, November 29th. Royal Bank of Canada upgraded shares of Atlantica Sustainable Infrastructure from a “sector perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Tuesday, January 17th. JPMorgan Chase & Co. lowered their target price on shares of Atlantica Sustainable Infrastructure from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Atlantica Sustainable Infrastructure from $28.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, November 10th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $33.86.

Atlantica Sustainable Infrastructure Price Performance

NASDAQ:AY opened at $28.65 on Friday. Atlantica Sustainable Infrastructure has a one year low of $24.42 and a one year high of $36.85. The company has a market cap of $3.22 billion, a P/E ratio of -716.25 and a beta of 0.83. The firm’s fifty day moving average price is $26.73 and its two-hundred day moving average price is $28.19. The company has a debt-to-equity ratio of 2.87, a current ratio of 2.17 and a quick ratio of 2.11.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 25th. Shareholders of record on Tuesday, March 14th will be issued a $0.445 dividend. The ex-dividend date is Monday, March 13th. This represents a $1.78 annualized dividend and a dividend yield of 6.21%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently -4,450.00%.

Atlantica Sustainable Infrastructure Company Profile

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Atlantica Sustainable Infrastructure Plc engages in the ownership, management, and acquisition of renewable energy. It specializes in the following businesses: Renewable Energy; Natural Gas; Electrical Transmission; and Water. The Renewable Energy business includes production of electricity from solar power and wind plants.