Atlantica Sustainable Infrastructure (NASDAQ:AY) Stock Price Up 3.4%

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) shares shot up 3.4% during trading on Wednesday . The stock traded as high as $17.74 and last traded at $17.73. 287,447 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 863,290 shares. The stock had previously closed at $17.15.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AY. National Bank Financial downgraded shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a report on Wednesday, April 3rd. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. Royal Bank of Canada cut their price objective on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Bank of America cut their price objective on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Finally, BMO Capital Markets cut their price target on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $23.67.

Atlantica Sustainable Infrastructure Price Performance

The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14. The company has a market capitalization of $2.13 billion, a P/E ratio of 43.45, a P/E/G ratio of 0.99 and a beta of 0.97. The business’s fifty day moving average price is $18.19 and its 200-day moving average price is $18.91.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The company had revenue of $241.31 million during the quarter, compared to the consensus estimate of $243.81 million. During the same period in the previous year, the firm posted $0.03 EPS. As a group, sell-side analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 9.68%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Large investors have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. purchased a new position in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $27,000. Point72 Asset Management L.P. purchased a new position in shares of Atlantica Sustainable Infrastructure during the second quarter valued at about $27,000. Creative Planning purchased a new position in shares of Atlantica Sustainable Infrastructure during the third quarter valued at about $27,000. FMR LLC increased its position in shares of Atlantica Sustainable Infrastructure by 63.6% during the second quarter. FMR LLC now owns 954 shares of the utilities provider’s stock valued at $31,000 after buying an additional 371 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Atlantica Sustainable Infrastructure by 122.2% during the first quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock valued at $35,000 after buying an additional 550 shares during the period. Hedge funds and other institutional investors own 40.53% of the company’s stock.

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.