Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Large Volume Increase

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) saw unusually-high trading volume on Tuesday . Approximately 1,096,555 shares changed hands during trading, an increase of 28% from the previous session’s volume of 854,812 shares.The stock last traded at $17.00 and had previously closed at $17.41.

Analyst Upgrades and Downgrades

AY has been the topic of several recent research reports. Royal Bank of Canada decreased their price target on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. UBS Group raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their target price for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. Bank of America cut their price target on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. National Bank Financial downgraded Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com downgraded Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.67.

Atlantica Sustainable Infrastructure Price Performance

The firm has a 50 day moving average of $18.19 and a 200-day moving average of $18.92. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14. The company has a market cap of $2.05 billion, a P/E ratio of 42.07, a P/E/G ratio of 0.97 and a beta of 0.97.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The firm had revenue of $241.31 million for the quarter, compared to analysts’ expectations of $243.81 million. During the same quarter last year, the business posted $0.03 earnings per share. On average, equities research analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 EPS for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were paid a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 10.07%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure’s payout ratio is currently 423.82%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

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