Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Rating) in a research note published on Thursday morning. The firm issued a hold rating on the utilities provider’s stock.

A number of other equities research analysts have also issued reports on AY. Bank of America raised shares of Atlantica Sustainable Infrastructure from a neutral rating to a buy rating and set a $32.00 price objective for the company in a report on Wednesday, March 8th. Morgan Stanley cut their target price on shares of Atlantica Sustainable Infrastructure from $36.00 to $33.00 and set an equal weight rating for the company in a report on Monday, January 30th. JPMorgan Chase & Co. cut their target price on shares of Atlantica Sustainable Infrastructure from $30.00 to $28.00 and set a neutral rating for the company in a report on Thursday, March 2nd. National Bankshares raised shares of Atlantica Sustainable Infrastructure from a sector perform rating to an outperform rating and set a $31.00 target price for the company in a report on Monday, May 8th. Finally, National Bank Financial upgraded Atlantica Sustainable Infrastructure from a sector perform rating to an outperform rating and set a $31.00 price target for the company in a research report on Monday, May 8th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $31.75.

Atlantica Sustainable Infrastructure Trading Down 2.5 %

Atlantica Sustainable Infrastructure stock opened at $25.02 on Thursday. The firm has a 50 day moving average of $27.17 and a 200 day moving average of $27.11. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of -833.72, a P/E/G ratio of 3.27 and a beta of 0.84. Atlantica Sustainable Infrastructure has a 12-month low of $24.42 and a 12-month high of $36.35. The company has a current ratio of 2.00, a quick ratio of 1.94 and a debt-to-equity ratio of 3.10.

Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Rating) last released its earnings results on Wednesday, March 1st. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.23. The company had revenue of $243.62 million during the quarter, compared to analyst estimates of $250.09 million. Atlantica Sustainable Infrastructure had a negative net margin of 0.40% and a negative return on equity of 0.25%. As a group, research analysts predict that Atlantica Sustainable Infrastructure will post 0.16 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $0.445 per share. The ex-dividend date is Tuesday, May 30th. This represents a $1.78 annualized dividend and a dividend yield of 7.11%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently -5,931.36%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several institutional investors have recently made changes to their positions in the company. Harvest Portfolios Group Inc. grew its stake in Atlantica Sustainable Infrastructure by 10.5% in the first quarter. Harvest Portfolios Group Inc. now owns 31,917 shares of the utilities provider’s stock valued at $943,000 after purchasing an additional 3,044 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Atlantica Sustainable Infrastructure by 8.7% during the first quarter. Rockefeller Capital Management L.P. now owns 115,306 shares of the utilities provider’s stock worth $3,408,000 after acquiring an additional 9,180 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Atlantica Sustainable Infrastructure by 15.1% during the first quarter. Mercer Global Advisors Inc. ADV now owns 10,297 shares of the utilities provider’s stock worth $304,000 after acquiring an additional 1,348 shares during the last quarter. State Street Corp grew its stake in shares of Atlantica Sustainable Infrastructure by 3.4% during the first quarter. State Street Corp now owns 741,995 shares of the utilities provider’s stock worth $21,933,000 after acquiring an additional 24,507 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Atlantica Sustainable Infrastructure by 0.6% during the first quarter. Geode Capital Management LLC now owns 126,215 shares of the utilities provider’s stock worth $3,731,000 after acquiring an additional 786 shares during the last quarter. Hedge funds and other institutional investors own 39.37% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

(Get Rating)

Atlantica Sustainable Infrastructure Plc engages in the ownership, management, and acquisition of renewable energy. It specializes in the following businesses: Renewable Energy; Natural Gas; Electrical Transmission; and Water. The Renewable Energy business includes production of electricity from solar power and wind plants.