Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Large Volume Increase

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 1,096,555 shares were traded during mid-day trading, an increase of 28% from the previous session's volume of 854,812 shares.The stock last traded at $17.00 and had previously closed at $17.41.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AY shares. BMO Capital Markets cut their price objective on shares of 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. Royal Bank of Canada lowered their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an "outperform" rating on the stock in a research note on Monday, March 4th. StockNews.com downgraded shares of Atlantica Sustainable Infrastructure from a "hold" rating to a "sell" rating in a research note on Friday. National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an "outperform" rating to a "sector perform" rating in a research note on Wednesday, April 3rd. Finally, UBS Group raised shares of Atlantica Sustainable Infrastructure from a "neutral" rating to a "buy" rating and raised their target price for the company from $19.00 to $25.00 in a research note on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $23.67.

Atlantica Sustainable Infrastructure Trading Down 1.5 %

The firm has a market cap of $1.99 billion, a P/E ratio of 40.83, a PEG ratio of 1.02 and a beta of 0.97. The firm's fifty day moving average is $18.21 and its two-hundred day moving average is $18.93. 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 released its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.25. The business had revenue of $241.31 million for the quarter, compared to analysts' expectations of $243.81 million. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. During the same quarter in the previous year, the business posted $0.03 earnings per share. Analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 earnings per share 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. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 10.38%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure's dividend payout ratio (DPR) is presently 423.82%.

Institutional Trading of Atlantica Sustainable Infrastructure

Hedge funds have recently modified their holdings of the business. Invesco Ltd. raised its position in shares of Atlantica Sustainable Infrastructure by 23.9% in the 1st quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider's stock worth $109,577,000 after purchasing an additional 601,826 shares during the last quarter. BlackRock Inc. raised its position in shares of Atlantica Sustainable Infrastructure by 1.6% in the 3rd quarter. BlackRock Inc. now owns 2,936,202 shares of the utilities provider's stock worth $77,223,000 after purchasing an additional 46,683 shares during the last quarter. Amundi raised its position in shares of Atlantica Sustainable Infrastructure by 18.4% in the 4th quarter. Amundi now owns 2,228,509 shares of the utilities provider's stock worth $58,381,000 after purchasing an additional 345,550 shares during the last quarter. Neumeier Poma Investment Counsel LLC raised its position in shares of Atlantica Sustainable Infrastructure by 1.9% in the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 1,324,276 shares of the utilities provider's stock worth $25,294,000 after purchasing an additional 24,300 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Atlantica Sustainable Infrastructure by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,291,772 shares of the utilities provider's stock worth $38,183,000 after purchasing an additional 87,556 shares during the last quarter. Institutional investors own 40.53% of the company's stock.

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.