Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Receives $23.67 Average Price Target from Analysts

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have been given a consensus recommendation of “Hold” by the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $23.67.

Several research analysts have weighed in on the company. National Bank Financial downgraded Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. StockNews.com downgraded Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Tuesday. BMO Capital Markets lowered their target price on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, March 5th. UBS Group upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and increased their target price for the company from $19.00 to $25.00 in a research report on Friday, March 22nd. Finally, Royal Bank of Canada lowered their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, March 4th.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of large investors have recently modified their holdings of the business. Invesco Ltd. grew its stake in shares of Atlantica Sustainable Infrastructure by 1.2% during the third quarter. Invesco Ltd. now owns 2,927,486 shares of the utilities provider’s stock worth $55,915,000 after acquiring an additional 33,635 shares during the last quarter. Neumeier Poma Investment Counsel LLC boosted its position 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 valued at $25,294,000 after buying an additional 24,300 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Atlantica Sustainable Infrastructure in the third quarter valued at approximately $24,218,000. Advisors Capital Management LLC boosted its position in Atlantica Sustainable Infrastructure by 32.2% in the third quarter. Advisors Capital Management LLC now owns 990,341 shares of the utilities provider’s stock valued at $18,916,000 after buying an additional 241,417 shares during the last quarter. Finally, Norges Bank acquired a new position in Atlantica Sustainable Infrastructure in the fourth quarter valued at approximately $15,487,000. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Trading Down 2.2 %

Atlantica Sustainable Infrastructure stock opened at $19.97 on Tuesday. The firm has a 50 day moving average of $18.26 and a 200 day moving average of $18.99. The firm has a market capitalization of $2.32 billion, a price-to-earnings ratio of 47.55, a P/E/G ratio of 1.10 and a beta of 0.97. Atlantica Sustainable Infrastructure has a 12-month low of $16.35 and a 12-month high of $27.32. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its 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. The company had revenue of $241.31 million during the quarter, compared to analyst estimates of $243.81 million. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. During the same period in the prior year, the firm posted $0.03 EPS. As a group, research analysts predict that Atlantica Sustainable Infrastructure will post 0.5 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were paid a $0.445 dividend. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 annualized dividend and a yield of 8.91%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 423.82%.

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.