Atlantica Sustainable Infrastructure (NASDAQ:AY) Stock Price Up 3.4%

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. StockNews.com cut shares of Atlantica Sustainable Infrastructure from a "hold" rating to a "sell" rating in a report on Friday, April 12th. 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. National Bank Financial lowered Atlantica Sustainable Infrastructure from an "outperform" rating to a "sector perform" rating in a report on Wednesday, April 3rd. Royal Bank of Canada reduced their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an "outperform" rating on the stock in a report on Monday, March 4th. Finally, UBS Group upgraded Atlantica Sustainable Infrastructure from a "neutral" rating to a "buy" rating and boosted their price target for the company from $19.00 to $25.00 in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Atlantica Sustainable Infrastructure currently has a consensus rating of "Hold" and an average target price of $23.67.

Atlantica Sustainable Infrastructure Price Performance

The business 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 capitalization of $2.05 billion, a P/E ratio of 40.83, a PEG ratio of 0.97 and a beta of 0.97. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) last posted its earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The firm had revenue of $241.31 million during the quarter, compared to analyst estimates of $243.81 million. During the same period in the previous year, the business posted $0.03 EPS. Analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 10.07%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure's payout ratio is currently 423.82%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of AY. Lazard Asset Management LLC bought a new position in Atlantica Sustainable Infrastructure during the third quarter valued at about $24,218,000. Norges Bank acquired a new stake in Atlantica Sustainable Infrastructure in the 4th quarter valued at about $15,487,000. Invesco Ltd. boosted its position in shares of Atlantica Sustainable Infrastructure by 23.9% during the 1st quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider's stock valued at $109,577,000 after purchasing an additional 601,826 shares in the last quarter. Millennium Management LLC grew its stake in shares of Atlantica Sustainable Infrastructure by 200.4% in the 4th quarter. Millennium Management LLC now owns 744,018 shares of the utilities provider's stock worth $19,270,000 after purchasing an additional 496,383 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Atlantica Sustainable Infrastructure in the 4th quarter worth approximately $7,637,000. 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.