Citigroup Inc. Decreases Stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Citigroup Inc. cut its holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 3.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,768 shares of the utilities provider’s stock after selling 4,086 shares during the quarter. Citigroup Inc. owned 0.12% of Atlantica Sustainable Infrastructure worth $3,866,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AY. Invesco Ltd. boosted its position in Atlantica Sustainable Infrastructure by 23.9% during the first quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock worth $109,577,000 after purchasing an additional 601,826 shares in the last quarter. Norges Bank purchased a new stake in Atlantica Sustainable Infrastructure during the fourth quarter worth $15,149,000. Millennium Management LLC boosted its position in Atlantica Sustainable Infrastructure by 200.4% during the fourth quarter. Millennium Management LLC now owns 744,018 shares of the utilities provider’s stock worth $19,270,000 after purchasing an additional 496,383 shares in the last quarter. Kayne Anderson Capital Advisors LP boosted its position in Atlantica Sustainable Infrastructure by 11.4% during the first quarter. Kayne Anderson Capital Advisors LP now owns 4,833,954 shares of the utilities provider’s stock worth $142,892,000 after purchasing an additional 494,472 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Atlantica Sustainable Infrastructure by 50.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,260,455 shares of the utilities provider’s stock worth $32,646,000 after purchasing an additional 422,300 shares in the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

Atlantica Sustainable Infrastructure Stock Performance

Atlantica Sustainable Infrastructure stock opened at $22.13 on Monday. The firm has a market capitalization of $2.49 billion, a P/E ratio of 158.07, a PEG ratio of 0.87 and a beta of 0.83. The stock has a fifty day moving average price of $23.17 and a 200 day moving average price of $25.30. Atlantica Sustainable Infrastructure plc has a 52 week low of $21.61 and a 52 week high of $33.78. The company has a current ratio of 1.84, a quick ratio of 1.77 and a debt-to-equity ratio of 3.01.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.11. Atlantica Sustainable Infrastructure had a return on equity of 0.86% and a net margin of 1.38%. The firm had revenue of $312.11 million during the quarter, compared to the consensus estimate of $315.89 million. Equities research analysts anticipate that Atlantica Sustainable Infrastructure plc will post 0.53 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 8.04%. The ex-dividend date is Wednesday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 1,271.43%.

Analysts Set New Price Targets

AY has been the topic of a number of research analyst reports. StockNews.com started coverage on Atlantica Sustainable Infrastructure in a research report on Thursday, August 17th. They set a “hold” rating on the stock. National Bank Financial raised Atlantica Sustainable Infrastructure from a “sector perform overweight” rating to an “outperform overweight” rating in a report on Saturday, July 22nd. National Bankshares raised Atlantica Sustainable Infrastructure from a “sector perform” rating to an “outperform” rating and set a $31.00 price target for the company in a report on Monday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on Atlantica Sustainable Infrastructure from $28.00 to $27.00 in a report on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $31.14.

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 the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.