Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Given Consensus Rating of “Hold” by Brokerages

Atlantica Sustainable Infrastructure plc (NASDAQ:AYGet Rating) has been given an average recommendation of “Hold” by the ten analysts that are presently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $38.88.

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Atlantica Sustainable Infrastructure from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. UBS Group upped their target price on Atlantica Sustainable Infrastructure from $33.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. BMO Capital Markets upped their target price on Atlantica Sustainable Infrastructure from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, August 4th. Finally, Bank of America lowered Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and reduced their target price for the company from $37.00 to $34.00 in a research note on Monday.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY opened at $30.17 on Wednesday. Atlantica Sustainable Infrastructure has a twelve month low of $28.82 and a twelve month high of $41.32. The stock’s 50 day moving average is $33.82 and its two-hundred day moving average is $33.32. The firm has a market capitalization of $3.39 billion, a PE ratio of -188.56 and a beta of 0.74. The company has a current ratio of 2.07, a quick ratio of 2.01 and a debt-to-equity ratio of 2.98.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The utilities provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.17). The business had revenue of $307.83 million during the quarter, compared to analysts’ expectations of $338.04 million. Atlantica Sustainable Infrastructure had a negative net margin of 1.66% and a negative return on equity of 1.08%. During the same period in the prior year, the firm posted $0.11 EPS. Research analysts anticipate that Atlantica Sustainable Infrastructure will post 0.49 earnings per share for the current year.

Atlantica Sustainable Infrastructure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 5.90%. This is an increase from Atlantica Sustainable Infrastructure’s previous quarterly dividend of $0.44. The ex-dividend date was Tuesday, August 30th. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently -1,112.50%.

Institutional Trading of Atlantica Sustainable Infrastructure

A number of institutional investors have recently added to or reduced their stakes in the business. Amundi lifted its position in shares of Atlantica Sustainable Infrastructure by 19.5% during the second quarter. Amundi now owns 1,661,875 shares of the utilities provider’s stock worth $53,465,000 after purchasing an additional 271,159 shares during the last quarter. M&G Investment Management Ltd. raised its stake in Atlantica Sustainable Infrastructure by 2.7% during the second quarter. M&G Investment Management Ltd. now owns 22,552 shares of the utilities provider’s stock worth $722,000 after acquiring an additional 587 shares during the period. Captrust Financial Advisors raised its stake in Atlantica Sustainable Infrastructure by 33.0% during the second quarter. Captrust Financial Advisors now owns 3,525 shares of the utilities provider’s stock worth $114,000 after acquiring an additional 874 shares during the period. Legal & General Group Plc raised its stake in Atlantica Sustainable Infrastructure by 2.0% during the second quarter. Legal & General Group Plc now owns 99,892 shares of the utilities provider’s stock worth $3,222,000 after acquiring an additional 1,973 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in Atlantica Sustainable Infrastructure by 11.6% during the second quarter. Goldman Sachs Group Inc. now owns 567,600 shares of the utilities provider’s stock worth $18,311,000 after acquiring an additional 58,866 shares during the period. 40.05% of the stock is owned by hedge funds and other institutional investors.

About Atlantica Sustainable Infrastructure

(Get Rating)

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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Analyst Recommendations for Atlantica Sustainable Infrastructure (NASDAQ:AY)

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