Harvest Portfolios Group Inc. Increases Holdings in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Harvest Portfolios Group Inc. increased its holdings in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) by 10.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,917 shares of the utilities provider’s stock after purchasing an additional 3,044 shares during the period. Harvest Portfolios Group Inc.’s holdings in Atlantica Sustainable Infrastructure were worth $943,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in Atlantica Sustainable Infrastructure by 63.6% during the 2nd quarter. FMR LLC now owns 954 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 371 shares during the last quarter. Virtu Financial LLC boosted its stake in Atlantica Sustainable Infrastructure by 4.0% during the 4th quarter. Virtu Financial LLC now owns 10,241 shares of the utilities provider’s stock valued at $265,000 after acquiring an additional 395 shares during the last quarter. Resources Management Corp CT ADV bought a new position in Atlantica Sustainable Infrastructure during the 1st quarter valued at $37,000. Raymond James Trust N.A. boosted its stake in Atlantica Sustainable Infrastructure by 4.2% during the 1st quarter. Raymond James Trust N.A. now owns 10,815 shares of the utilities provider’s stock valued at $320,000 after acquiring an additional 431 shares during the last quarter. Finally, AE Wealth Management LLC boosted its stake in Atlantica Sustainable Infrastructure by 6.2% during the 1st quarter. AE Wealth Management LLC now owns 9,352 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 543 shares during the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY opened at $22.57 on Thursday. Atlantica Sustainable Infrastructure plc has a one year low of $21.54 and a one year high of $33.69. The company has a 50-day moving average of $22.98 and a two-hundred day moving average of $25.06. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 161.21, a PEG ratio of 0.84 and a beta of 0.83. 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 (NASDAQ:AY) last announced its earnings results on Tuesday, August 1st. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.20 by $0.11. The company 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%. On average, equities research analysts expect that Atlantica Sustainable Infrastructure plc will post 0.53 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 7.89%. The ex-dividend date is Wednesday, August 30th. Atlantica Sustainable Infrastructure’s payout ratio 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.