Atlantica Sustainable Infrastructure (NASDAQ:AY) Shares Up 3.4%

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) traded up 3.4% on Wednesday . The stock traded as high as $17.74 and last traded at $17.73. 287,447 shares were traded during mid-day trading, a decline of 67% from the average session volume of 863,290 shares. The stock had previously closed at $17.15.

Analysts Set New Price Targets

A number of brokerages have commented on AY. UBS Group upgraded shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and increased their price target for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. Royal Bank of Canada reduced their price target on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. Bank of America reduced their price target 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, BMO Capital Markets reduced their price target on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.67.

Atlantica Sustainable Infrastructure Stock Up 3.2 %

The company has a 50-day simple moving average of $18.21 and a 200 day simple moving average of $18.93. The company has a market cap of $2.05 billion, a P/E ratio of 40.83, a P/E/G ratio of 0.97 and a beta of 0.97. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.25. The business had revenue of $241.31 million for the quarter, compared to the consensus estimate 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 company earned $0.03 EPS. On average, equities analysts anticipate that Atlantica Sustainable Infrastructure plc will post 0.49 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were given a dividend of $0.445 per share. The ex-dividend date was Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a yield of 10.06%. Atlantica Sustainable Infrastructure’s payout ratio is presently 423.82%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several institutional investors and hedge funds have recently bought and sold shares of AY. FMR LLC increased 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 worth $31,000 after buying an additional 371 shares during the period. Virtu Financial LLC increased its position in shares of Atlantica Sustainable Infrastructure by 4.0% in the 4th quarter. Virtu Financial LLC now owns 10,241 shares of the utilities provider’s stock valued at $265,000 after purchasing an additional 395 shares during the last quarter. 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. Insight Folios Inc increased its position in shares of Atlantica Sustainable Infrastructure by 2.5% in the 4th quarter. Insight Folios Inc now owns 23,000 shares of the utilities provider’s stock valued at $494,000 after purchasing an additional 566 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Atlantica Sustainable Infrastructure by 0.3% in the 2nd quarter. Northern Trust Corp now owns 181,592 shares of the utilities provider’s stock valued at $5,858,000 after purchasing an additional 576 shares during the last quarter. 40.53% of the stock is currently owned by institutional investors and hedge funds.

About Atlantica Sustainable Infrastructure

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.