Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Receives $33.80 Consensus Price Target from Brokerages

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been assigned an average recommendation of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $33.80.

Several analysts recently issued reports on AY shares. Seaport Global Securities upgraded Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and set a $38.00 price objective for the company in a report on Tuesday, December 15th. Raymond James increased their target price on shares of Atlantica Sustainable Infrastructure from $33.00 to $36.00 and gave the stock an “outperform” rating in a research report on Monday, November 9th. Bank of America downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating in a research report on Friday, October 9th. Zacks Investment Research downgraded shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Wednesday, December 23rd. Finally, BidaskClub downgraded shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

A number of institutional investors and hedge funds have recently made changes to their positions in AY. BlackRock Inc. raised its holdings in shares of Atlantica Sustainable Infrastructure by 52.8% in the 3rd quarter. BlackRock Inc. now owns 3,472,558 shares of the utilities provider’s stock valued at $99,350,000 after purchasing an additional 1,200,232 shares during the period. Kayne Anderson Capital Advisors LP raised its holdings in shares of Atlantica Sustainable Infrastructure by 2.1% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 2,686,756 shares of the utilities provider’s stock valued at $76,859,000 after purchasing an additional 56,345 shares during the period. FMR LLC bought a new stake in shares of Atlantica Sustainable Infrastructure in the 1st quarter valued at about $26,976,000. Raymond James & Associates raised its holdings in shares of Atlantica Sustainable Infrastructure by 11.5% in the 3rd quarter. Raymond James & Associates now owns 965,289 shares of the utilities provider’s stock valued at $27,617,000 after purchasing an additional 99,713 shares during the period. Finally, Neuberger Berman Group LLC raised its holdings in shares of Atlantica Sustainable Infrastructure by 2.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 941,119 shares of the utilities provider’s stock valued at $26,926,000 after purchasing an additional 20,254 shares during the period. Hedge funds and other institutional investors own 33.03% of the company’s stock.

AY opened at $37.98 on Wednesday. The stock has a fifty day moving average of $35.52 and a 200-day moving average of $30.94. The firm has a market capitalization of $3.86 billion, a P/E ratio of 64.37 and a beta of 0.66. Atlantica Sustainable Infrastructure has a 12-month low of $17.74 and a 12-month high of $41.25. The company has a quick ratio of 1.78, a current ratio of 1.81 and a debt-to-equity ratio of 3.39.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its quarterly earnings data on Friday, November 6th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.15. Atlantica Sustainable Infrastructure had a return on equity of 3.86% and a net margin of 6.37%. The business had revenue of $302.99 million during the quarter. On average, analysts expect that Atlantica Sustainable Infrastructure will post 0.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 15th. Investors of record on Monday, November 30th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date was Friday, November 27th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 275.41%.

Atlantica Sustainable Infrastructure Company Profile

Atlantica Sustainable Infrastructure plc acquires, owns, and manages renewable energy, natural gas, transmission and transportation infrastructures, and water assets in the United States, Canada, Mexico, Peru, Chile, Uruguay, Spain, Algeria, and South Africa. It owns 25 assets comprising 1,496 MW of aggregate renewable energy installed generation capacity; 343 MW of natural gas-fired power generation capacity; 1,166 miles of electric transmission lines; and 10.5 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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