Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Strong Trading Volume

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) saw strong trading volume on Tuesday . 1,910,993 shares were traded during mid-day trading, an increase of 108% from the previous session’s volume of 919,152 shares.The stock last traded at $20.17 and had previously closed at $18.51.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AY shares. Bank of America lowered their price target on 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. 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. StockNews.com cut Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research note on Tuesday. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $25.00 in a research note on Friday, March 22nd. Finally, BMO Capital Markets lowered their price objective on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Atlantica Sustainable Infrastructure currently has a consensus rating of “Hold” and a consensus price target of $23.67.

Atlantica Sustainable Infrastructure Stock Performance

The firm has a market capitalization of $2.31 billion, a PE ratio of 46.93, 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. The business has a 50-day simple moving average of $18.18 and a 200-day simple moving average of $18.95.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. The company had revenue of $241.31 million for the quarter, compared to analysts’ expectations of $243.81 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. Equities research analysts expect that Atlantica Sustainable Infrastructure plc will post 0.5 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 8.94%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 423.82%.

Institutional Trading of Atlantica Sustainable Infrastructure

A number of hedge funds have recently modified their holdings of the stock. Invesco Ltd. increased its position in shares of Atlantica Sustainable Infrastructure by 1.2% during the third quarter. Invesco Ltd. now owns 2,927,486 shares of the utilities provider’s stock worth $55,915,000 after purchasing an additional 33,635 shares in the last quarter. Neumeier Poma Investment Counsel LLC raised its position in shares of Atlantica Sustainable Infrastructure by 1.9% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 1,324,276 shares of the utilities provider’s stock valued at $25,294,000 after buying an additional 24,300 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Atlantica Sustainable Infrastructure in the third quarter worth about $24,218,000. Advisors Capital Management LLC boosted its position in Atlantica Sustainable Infrastructure by 32.2% during the third quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock worth $18,916,000 after acquiring an additional 241,417 shares during the last quarter. Finally, Norges Bank purchased a new stake in Atlantica Sustainable Infrastructure during the 4th quarter valued at about $15,487,000. Hedge funds and other institutional investors own 40.53% of the company’s stock.

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.