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

StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research report released on Thursday. The brokerage issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY opened at $21.99 on Thursday. The business’s 50 day moving average is $22.03 and its 200-day moving average is $22.02. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. The firm has a market capitalization of $2.55 billion, a PE ratio of 75.83, a PEG ratio of 2.14 and a beta of 1.00. Atlantica Sustainable Infrastructure has a 1-year low of $16.82 and a 1-year high of $23.47.

Atlantica Sustainable Infrastructure Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 29th were given a $0.2225 dividend. This represents a $0.89 annualized dividend and a yield of 4.05%. The ex-dividend date was Friday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 306.91%.

Institutional Trading of Atlantica Sustainable Infrastructure

Several institutional investors have recently bought and sold shares of the stock. Water Island Capital LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter worth approximately $13,438,000. Alpine Associates Management Inc. boosted its stake in Atlantica Sustainable Infrastructure by 54.0% in the third quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock worth $36,542,000 after purchasing an additional 582,821 shares in the last quarter. Melqart Asset Management UK Ltd increased its stake in shares of Atlantica Sustainable Infrastructure by 4.2% in the third quarter. Melqart Asset Management UK Ltd now owns 1,337,755 shares of the utilities provider’s stock valued at $29,404,000 after buying an additional 53,680 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Atlantica Sustainable Infrastructure in the third quarter valued at about $1,356,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in Atlantica Sustainable Infrastructure during the 3rd quarter worth about $5,385,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

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.