Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Plans Quarterly Dividend of $0.45

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Investors of record on Friday, May 31st will be paid a dividend of 0.445 per share by the utilities provider on Friday, June 14th. This represents a $1.78 annualized dividend and a yield of 8.00%. The ex-dividend date is Friday, May 31st.

Atlantica Sustainable Infrastructure has increased its dividend by an average of 2.4% annually over the last three years. Atlantica Sustainable Infrastructure has a payout ratio of 258.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Atlantica Sustainable Infrastructure to earn $0.62 per share next year, which means the company may not be able to cover its $1.78 annual dividend with an expected future payout ratio of 287.1%.

Atlantica Sustainable Infrastructure Price Performance

Shares of Atlantica Sustainable Infrastructure stock traded up $0.59 during trading on Thursday, hitting $22.25. The stock had a trading volume of 1,987,766 shares, compared to its average volume of 1,126,263. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.35 and a fifty-two week high of $26.95. The firm has a market cap of $2.58 billion, a P/E ratio of 52.26, a PEG ratio of 1.10 and a beta of 0.94. The business has a fifty day moving average of $18.68 and a two-hundred day moving average of $19.20. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $242.93 million during the quarter, compared to analyst estimates of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 2.91% and a net margin of 4.43%. During the same period last year, the company posted ($0.09) EPS. On average, sell-side analysts expect that Atlantica Sustainable Infrastructure will post 0.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AY has been the subject of several research analyst reports. 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. Bank of America lowered their price target on 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. BMO Capital Markets decreased their price objective on 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. Royal Bank of Canada reduced their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Finally, StockNews.com cut shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Atlantica Sustainable Infrastructure currently has an average rating of “Hold” and an average target price of $22.75.

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.