Atlantica Sustainable Infrastructure (NASDAQ:AY) Downgraded by StockNews.com

StockNews.com lowered shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) from a hold rating to a sell rating in a report released on Tuesday.

A number of other analysts have also recently weighed in on AY. BMO Capital Markets lowered their price objective on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a market perform rating for the company in a research report on Tuesday, March 5th. National Bank Financial downgraded Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a report on Wednesday, April 3rd. Royal Bank of Canada dropped their price target on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an outperform rating on the stock in a research note on Monday, March 4th. UBS Group raised shares of Atlantica Sustainable Infrastructure from a neutral rating to a buy rating and increased their price objective for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. Finally, Bank of America dropped their target price on shares of 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $23.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of Atlantica Sustainable Infrastructure stock opened at $19.91 on Tuesday. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $28.25. The company has a market capitalization of $2.31 billion, a PE ratio of 47.41, a P/E/G ratio of 1.01 and a beta of 0.97. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62. The company has a 50-day simple moving average of $18.21 and a two-hundred day simple moving average of $18.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its 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 company had revenue of $241.31 million during the quarter, compared to analysts’ expectations 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 company posted $0.03 earnings per share. Research analysts expect that Atlantica Sustainable Infrastructure will post 0.5 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 8.94%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio 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 the business. Lazard Asset Management LLC acquired a new position in Atlantica Sustainable Infrastructure in the third quarter valued at approximately $24,218,000. Norges Bank purchased a new stake in Atlantica Sustainable Infrastructure during the fourth quarter worth $15,487,000. Westwood Holdings Group Inc. grew its position in Atlantica Sustainable Infrastructure by 140.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock valued at $9,642,000 after buying an additional 261,825 shares during the period. Advisors Capital Management LLC increased its holdings in Atlantica Sustainable Infrastructure by 32.2% in the third quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock valued at $18,916,000 after buying an additional 241,417 shares in the last quarter. Finally, Tritonpoint Wealth LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter worth about $4,007,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

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.