Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Receives $22.20 Average PT from Analysts

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $22.20.

Separately, StockNews.com initiated coverage on Atlantica Sustainable Infrastructure in a research report on Tuesday, December 24th. They issued a “sell” rating for the company.

Institutional Trading of Atlantica Sustainable Infrastructure

A number of hedge funds have recently made changes to their positions in AY. Alpine Associates Management Inc. bought a new stake in shares of Atlantica Sustainable Infrastructure during the 2nd quarter worth about $23,699,000. Westchester Capital Management LLC grew its position in shares of Atlantica Sustainable Infrastructure by 305.3% in the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock valued at $25,139,000 after purchasing an additional 861,541 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Atlantica Sustainable Infrastructure during the second quarter worth approximately $13,719,000. Glazer Capital LLC acquired a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter worth approximately $13,629,000. Finally, Water Island Capital LLC bought a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,438,000. 40.53% of the stock is owned by institutional investors and hedge funds.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ AY opened at $21.99 on Friday. The stock has a market cap of $2.55 billion, a P/E ratio of 75.83, a P/E/G ratio of 2.14 and a beta of 1.00. The firm has a 50 day moving average price of $22.03 and a 200 day moving average price of $22.02. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.20 and a current ratio of 1.25. Atlantica Sustainable Infrastructure has a 52-week low of $16.82 and a 52-week high of $23.47.

Atlantica Sustainable Infrastructure Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 29th were issued a $0.2225 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.05%. Atlantica Sustainable Infrastructure’s payout ratio is 306.91%.

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.