Atlantica Sustainable Infrastructure (NASDAQ:AY) Lowered to Sell at StockNews.com

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

Other equities research analysts have also recently issued reports about the company. Bank of America cut their target price 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. National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a research report on Wednesday, April 3rd. Royal Bank of Canada decreased their target price on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an outperform rating for the company in a report on Monday, March 4th. BMO Capital Markets cut their price target on shares of 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. Finally, UBS Group raised shares of Atlantica Sustainable Infrastructure from a neutral rating to a buy rating and raised their price target for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $23.67.

Atlantica Sustainable Infrastructure Price Performance

AY opened at $19.91 on Tuesday. 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 $2.31 billion, a price-to-earnings ratio of 47.41, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The stock has a fifty day simple moving average of $18.21 and a two-hundred day simple moving average of $18.97. Atlantica Sustainable Infrastructure has a 12-month low of $16.35 and a 12-month high of $28.25.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping 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 company had revenue of $241.31 million during the quarter, compared to analyst estimates of $243.81 million. During the same period last year, the business earned $0.03 EPS. Research analysts predict that Atlantica Sustainable Infrastructure will post 0.5 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were given a dividend of $0.445 per share. The ex-dividend date was Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a yield of 8.94%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 423.82%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Several institutional investors and hedge funds have recently added to or reduced their stakes in AY. Rational Advisors LLC boosted its position in Atlantica Sustainable Infrastructure by 113.8% in the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,025 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Atlantica Sustainable Infrastructure in the third quarter worth approximately $43,000. IFP Advisors Inc grew its position in Atlantica Sustainable Infrastructure by 37.1% during the third quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock valued at $49,000 after buying an additional 698 shares during the period. Clear Street Markets LLC purchased a new stake in Atlantica Sustainable Infrastructure during the third quarter valued at approximately $50,000. Finally, Clean Yield Group raised its position in Atlantica Sustainable Infrastructure by 71.4% in the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock worth $129,000 after acquiring an additional 2,500 shares during the period. Hedge funds and other institutional investors 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.