Atlantica Sustainable Infrastructure (NASDAQ:AY) Price Target Raised to $36.00 at BMO Capital Markets

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) had its price target upped by equities researchers at BMO Capital Markets from $33.00 to $36.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 3.33% from the stock’s current price.

A number of other research firms have also recently weighed in on AY. Bank of America raised Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, May 12th. Morgan Stanley reduced their target price on Atlantica Sustainable Infrastructure from $39.00 to $36.00 and set an “equal weight” rating for the company in a report on Tuesday, April 12th. Raymond James set a $43.00 target price on Atlantica Sustainable Infrastructure and gave the company an “outperform” rating in a report on Tuesday, May 10th. Finally, UBS Group increased their target price on Atlantica Sustainable Infrastructure from $33.00 to $35.00 and gave the company a “neutral” rating in a report on Thursday. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and a consensus target price of $38.75.

Atlantica Sustainable Infrastructure Stock Down 0.7 %

Shares of AY opened at $34.84 on Thursday. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of -217.75 and a beta of 0.73. Atlantica Sustainable Infrastructure has a 52 week low of $28.82 and a 52 week high of $41.32. The company has a quick ratio of 2.11, a current ratio of 2.17 and a debt-to-equity ratio of 3.14. The stock’s 50-day moving average price is $33.11 and its 200-day moving average price is $33.02.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). Atlantica Sustainable Infrastructure had a negative return on equity of 1.08% and a negative net margin of 1.66%. During the same period last year, the firm posted $0.11 earnings per share. On average, sell-side analysts predict that Atlantica Sustainable Infrastructure will post 0.51 EPS for the current year.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Abundance Wealth Counselors grew its stake in shares of Atlantica Sustainable Infrastructure by 13.7% in the second quarter. Abundance Wealth Counselors now owns 22,083 shares of the utilities provider’s stock valued at $712,000 after buying an additional 2,668 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its stake in shares of Atlantica Sustainable Infrastructure by 11.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 3,514,954 shares of the utilities provider’s stock valued at $113,393,000 after buying an additional 373,574 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at $12,393,000. SPC Financial Inc. grew its stake in shares of Atlantica Sustainable Infrastructure by 15.1% in the second quarter. SPC Financial Inc. now owns 7,625 shares of the utilities provider’s stock valued at $246,000 after buying an additional 1,000 shares in the last quarter. Finally, Sciencast Management LP grew its stake in shares of Atlantica Sustainable Infrastructure by 184.1% in the second quarter. Sciencast Management LP now owns 30,115 shares of the utilities provider’s stock valued at $1,078,000 after buying an additional 19,515 shares in the last quarter. Institutional investors and hedge funds own 40.05% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

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Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. It owns 39 assets comprising 2,044 megawatts (MW) of aggregate renewable energy installed generation capacity; 343 MW of natural gas-fired power generation capacity; 55 thermal megawatts of district heating capacity; 1,229 miles of electric transmission lines; and 17.5 million cubic feet per day of water desalination assets.

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