Atlantica Sustainable Infrastructure (NASDAQ:AY) Shares Up 3.4%

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AY. StockNews.com lowered shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Friday, April 12th. BMO Capital Markets dropped their target price on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, March 5th. National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and upped their price target for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. Finally, Royal Bank of Canada reduced their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One investment 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.67.

Atlantica Sustainable Infrastructure Stock Up 3.2 %

The business has a fifty day moving average of $18.21 and a 200 day moving average of $18.93. The company has a market capitalization of $2.05 billion, a PE ratio of 40.83, a PEG ratio of 0.97 and a beta of 0.97. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.25. The business had revenue of $241.31 million for the quarter, compared to analyst estimates of $243.81 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same quarter last year, the company earned $0.03 EPS. Equities research analysts anticipate that Atlantica Sustainable Infrastructure plc will post 0.49 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm 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. The ex-dividend date was Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 10.06%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 423.82%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AY. Invesco Ltd. grew its position in Atlantica Sustainable Infrastructure by 23.9% in the first quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock valued at $109,577,000 after acquiring an additional 601,826 shares in the last quarter. BlackRock Inc. raised its stake in shares of Atlantica Sustainable Infrastructure by 1.6% during the third quarter. BlackRock Inc. now owns 2,936,202 shares of the utilities provider’s stock valued at $77,223,000 after purchasing an additional 46,683 shares in the last quarter. Amundi raised its stake in shares of Atlantica Sustainable Infrastructure by 18.4% during the fourth quarter. Amundi now owns 2,228,509 shares of the utilities provider’s stock valued at $58,381,000 after purchasing an additional 345,550 shares in the last quarter. Neumeier Poma Investment Counsel LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 1.9% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 1,324,276 shares of the utilities provider’s stock valued at $25,294,000 after purchasing an additional 24,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Atlantica Sustainable Infrastructure by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,291,772 shares of the utilities provider’s stock worth $38,183,000 after acquiring an additional 87,556 shares during the period. 40.53% of the stock is currently owned by hedge funds and other 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.