Brokerages Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Target Price at $23.13

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have been given a consensus recommendation of “Hold” by the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $23.13.

A number of research analysts have commented on AY shares. BMO Capital Markets increased their price objective on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Friday, May 10th. Royal Bank of Canada reduced their price target on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. 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. Bank of America reduced their price target on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Finally, StockNews.com downgraded shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Friday, May 17th.

Atlantica Sustainable Infrastructure Price Performance

Atlantica Sustainable Infrastructure stock opened at $23.15 on Friday. Atlantica Sustainable Infrastructure has a 52-week low of $16.35 and a 52-week high of $25.78. The firm has a fifty day moving average of $19.65 and a 200-day moving average of $19.52. The firm has a market capitalization of $2.69 billion, a P/E ratio of 50.33, a PEG ratio of 1.50 and a beta of 0.94. The company has a quick ratio of 1.50, a current ratio of 1.55 and a debt-to-equity ratio of 3.25.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The business had revenue of $242.93 million during the quarter, compared to analyst estimates of $240.87 million. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. During the same period last year, the business earned ($0.09) EPS. As a group, analysts predict that Atlantica Sustainable Infrastructure will post 0.41 EPS for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 7.69%. The ex-dividend date is Friday, May 31st. Atlantica Sustainable Infrastructure’s payout ratio is 386.96%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in AY. Handelsbanken Fonder AB boosted its holdings in shares of Atlantica Sustainable Infrastructure by 9.5% during the fourth quarter. Handelsbanken Fonder AB now owns 17,676 shares of the utilities provider’s stock worth $380,000 after purchasing an additional 1,537 shares during the period. Tritonpoint Wealth LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure during the fourth quarter worth approximately $4,007,000. Barclays PLC boosted its holdings in shares of Atlantica Sustainable Infrastructure by 36.6% during the third quarter. Barclays PLC now owns 10,828 shares of the utilities provider’s stock worth $207,000 after purchasing an additional 2,904 shares during the period. Beck Bode LLC boosted its holdings in shares of Atlantica Sustainable Infrastructure by 13.9% during the fourth quarter. Beck Bode LLC now owns 465,944 shares of the utilities provider’s stock worth $10,018,000 after purchasing an additional 56,958 shares during the period. Finally, Graham Capital Management L.P. acquired a new stake in shares of Atlantica Sustainable Infrastructure during the third quarter worth approximately $399,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

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.