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

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) shares saw unusually-strong trading volume on Tuesday . Approximately 1,910,993 shares were traded 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.

Analyst Upgrades and Downgrades

AY has been the subject of a number of recent analyst reports. UBS Group raised 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 note on Friday, March 22nd. Royal Bank of Canada decreased their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Bank of America dropped their price target on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. StockNews.com cut Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, National Bank Financial lowered shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.67.

Atlantica Sustainable Infrastructure Stock Performance

The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 46.93, a PEG ratio of 1.01 and a beta of 0.97. The stock has a 50-day moving average price of $18.18 and a 200-day moving average price of $18.95.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly 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. The business had revenue of $241.31 million for the quarter, compared to analyst estimates 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 prior year, the business earned $0.03 EPS. As a group, analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.5 earnings per share 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 of this dividend was Monday, March 11th. This represents a $1.78 annualized dividend and a dividend yield of 8.94%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 423.82%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. bought a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter worth $27,000. Riverview Trust Co bought a new position in Atlantica Sustainable Infrastructure in the 1st quarter valued at about $42,000. Rational Advisors LLC raised its position in shares of Atlantica Sustainable Infrastructure by 740.8% in the 3rd quarter. Rational Advisors LLC now owns 2,186 shares of the utilities provider’s stock valued at $43,000 after buying an additional 1,926 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Atlantica Sustainable Infrastructure by 37.1% during the 3rd quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 698 shares in the last quarter. Finally, Clear Street Markets LLC bought a new position in Atlantica Sustainable Infrastructure in the third quarter valued at approximately $50,000. 40.53% of the stock is owned by 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.