Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated by Analysts at StockNews.com

StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research note published on Friday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Stock Performance

Shares of NASDAQ:AY opened at $22.13 on Friday. The business has a fifty day moving average of $22.01 and a 200-day moving average of $22.09. The firm has a market cap of $2.57 billion, a PE ratio of 76.34, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.20 and a current ratio of 1.25. Atlantica Sustainable Infrastructure has a twelve month low of $16.82 and a twelve month high of $23.47.

Atlantica Sustainable Infrastructure Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 29th will be given a dividend of $0.2225 per share. The ex-dividend date is Friday, November 29th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.02%. Atlantica Sustainable Infrastructure’s payout ratio is 306.90%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AY. Alpine Associates Management Inc. bought a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at about $23,699,000. Westchester Capital Management LLC boosted its stake in Atlantica Sustainable Infrastructure by 305.3% in the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock valued at $25,139,000 after acquiring an additional 861,541 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter worth $13,719,000. Glazer Capital LLC bought a new stake in shares of Atlantica Sustainable Infrastructure during the 2nd quarter valued at $13,629,000. Finally, Water Island Capital LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at $13,438,000. 40.53% of the stock is currently owned by institutional investors.

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.