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

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 1,910,993 shares changed hands during 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.

Wall Street Analysts Forecast Growth

AY has been the topic of several research reports. Bank of America decreased 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 note on Tuesday, March 26th. UBS Group raised shares of Atlantica Sustainable Infrastructure from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $19.00 to $25.00 in a research note on Friday, March 22nd. StockNews.com downgraded shares of Atlantica Sustainable Infrastructure from a "hold" rating to a "sell" rating in a research note on Tuesday. 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, BMO Capital Markets decreased 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 note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $23.67.

Atlantica Sustainable Infrastructure Trading Up 7.6 %

The firm has a market capitalization of $2.31 billion, a PE ratio of 47.41, 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 quick ratio of 1.57 and a current ratio of 1.62. The stock's 50-day simple moving average is $18.21 and its 200-day simple moving average is $18.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) last announced its earnings results on Friday, March 1st. The utilities provider reported $0.02 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 for the quarter, compared to analysts' expectations of $243.81 million. During the same quarter in the previous year, the business posted $0.03 EPS. As a group, sell-side analysts expect that Atlantica Sustainable Infrastructure plc will post 0.5 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 8.94%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure's payout ratio is 423.82%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Hedge funds have recently bought and sold shares of the company. IFP Advisors Inc raised its position in Atlantica Sustainable Infrastructure by 37.1% in the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider's stock worth $49,000 after buying an additional 698 shares during the last quarter. SG Americas Securities LLC purchased a new position in Atlantica Sustainable Infrastructure in the 3rd quarter worth about $280,000. Riverview Trust Co purchased a new position in Atlantica Sustainable Infrastructure in the 3rd quarter worth about $43,000. Mission Wealth Management LP raised its position in Atlantica Sustainable Infrastructure by 12.0% in the 3rd quarter. Mission Wealth Management LP now owns 26,175 shares of the utilities provider's stock worth $500,000 after buying an additional 2,809 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its position in Atlantica Sustainable Infrastructure by 0.6% in the 3rd quarter. Ceredex Value Advisors LLC now owns 463,350 shares of the utilities provider's stock worth $8,850,000 after buying an additional 2,550 shares during the last quarter. 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.