Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Receives Consensus Rating of “Hold” from Brokerages

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has received a consensus recommendation of “Hold” from the nine ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $23.67.

A number of equities analysts recently weighed in on the company. BMO Capital Markets reduced their price target 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. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada cut their price target on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Bank of America dropped their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Finally, UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $25.00 in a research report on Friday, March 22nd.

Atlantica Sustainable Infrastructure Trading Up 0.7 %

NASDAQ AY opened at $18.51 on Tuesday. The company has a fifty day moving average of $18.18 and a 200 day moving average of $18.95. The company has a market capitalization of $2.15 billion, a PE ratio of 44.07, a P/E/G ratio of 1.01 and a beta of 0.97. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57. Atlantica Sustainable Infrastructure has a 1 year low of $16.35 and a 1 year high of $28.25.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.25. The business 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 quarter in the prior year, the firm posted $0.03 EPS. Research analysts forecast that Atlantica Sustainable Infrastructure will post 0.5 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 9.62%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rational Advisors LLC lifted its holdings in Atlantica Sustainable Infrastructure by 740.8% in the 3rd quarter. Rational Advisors LLC now owns 2,186 shares of the utilities provider’s stock worth $43,000 after buying an additional 1,926 shares in the last quarter. Riverview Trust Co purchased a new position in Atlantica Sustainable Infrastructure in the third quarter valued at about $43,000. IFP Advisors Inc raised its position in shares of Atlantica Sustainable Infrastructure by 37.1% in the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 698 shares in the last quarter. Clear Street Markets LLC purchased a new position in shares of Atlantica Sustainable Infrastructure during the 3rd quarter valued at approximately $50,000. Finally, Clean Yield Group increased its stake in shares of Atlantica Sustainable Infrastructure by 71.4% in the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after buying an additional 2,500 shares during the last quarter. 40.53% of the stock is owned by institutional investors and hedge funds.

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 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.