Analysts Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) PT at $22.67

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have earned an average rating of “Hold” from the ten analysts that are currently covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $22.67.

AY has been the subject of several research reports. StockNews.com initiated coverage on Atlantica Sustainable Infrastructure in a research report on Thursday, September 19th. They issued a “sell” rating for the company. National Bankshares boosted their price objective on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 28th. UBS Group cut shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their target price for the stock from $25.00 to $22.00 in a report on Thursday, May 30th. Finally, Seaport Res Ptn lowered Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th.

Atlantica Sustainable Infrastructure Price Performance

AY stock opened at $22.00 on Friday. The firm has a market cap of $2.55 billion, a P/E ratio of 47.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03. The company has a debt-to-equity ratio of 3.26, a quick ratio of 1.30 and a current ratio of 1.35. Atlantica Sustainable Infrastructure has a 1 year low of $16.35 and a 1 year high of $23.47. The stock has a 50-day simple moving average of $22.04 and a 200-day simple moving average of $21.12.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $328.26 million for the quarter, compared to analyst estimates of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. On average, equities analysts predict that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were given a $0.445 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.78 annualized dividend and a dividend yield of 8.09%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 386.96%.

Institutional Trading of Atlantica Sustainable Infrastructure

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Atlantica Sustainable Infrastructure by 3.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 17,389 shares of the utilities provider’s stock valued at $382,000 after buying an additional 637 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Atlantica Sustainable Infrastructure by 4.3% during the 1st quarter. Private Advisor Group LLC now owns 20,918 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 864 shares in the last quarter. Covestor Ltd lifted its stake in shares of Atlantica Sustainable Infrastructure by 12.8% in the 1st quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 1,064 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 4.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 28,801 shares of the utilities provider’s stock valued at $532,000 after acquiring an additional 1,132 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Atlantica Sustainable Infrastructure in the second quarter valued at approximately $30,000. 40.53% of the stock is owned by hedge funds and other institutional investors.

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.