Brookfield Corp ON Cuts Stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Brookfield Corp ON reduced its holdings in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 25.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,048,612 shares of the utilities provider’s stock after selling 365,197 shares during the period. Brookfield Corp ON owned about 0.93% of Atlantica Sustainable Infrastructure worth $30,997,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. FMR LLC increased its position in shares of 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. Endurance Wealth Management Inc. purchased a new stake in shares of Atlantica Sustainable Infrastructure in the 1st quarter valued at approximately $32,000. Point72 Asset Management L.P. purchased a new stake in shares of Atlantica Sustainable Infrastructure in the 4th quarter valued at approximately $32,000. PNC Financial Services Group Inc. increased its position in shares of 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. Finally, Resources Management Corp CT ADV purchased a new stake in shares of Atlantica Sustainable Infrastructure in the 1st quarter valued at approximately $37,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Atlantica Sustainable Infrastructure Stock Up 0.2 %

Shares of NASDAQ:AY opened at $22.26 on Tuesday. The stock has a market cap of $2.50 billion, a P/E ratio of 159.00, a P/E/G ratio of 0.84 and a beta of 0.83. The firm has a fifty day moving average price of $23.01 and a 200 day moving average price of $25.11. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.84 and a quick ratio of 1.77. Atlantica Sustainable Infrastructure plc has a 1-year low of $21.54 and a 1-year high of $33.78.

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

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 8.00%. The ex-dividend date is Wednesday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 1,271.43%.

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.