Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Strong Trading Volume on Analyst Upgrade

Atlantica Sustainable Infrastructure plc (NASDAQ:AYGet Free Report) saw an uptick in trading volume on Wednesday after National Bankshares raised their price target on the stock from $20.00 to $22.00. National Bankshares currently has a sector perform rating on the stock. 930,618 shares were traded during trading, a decline of 29% from the previous session’s volume of 1,316,379 shares.The stock last traded at $22.22 and had previously closed at $22.21.

A number of other brokerages have also recently issued reports on AY. Bank of America decreased their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. BMO Capital Markets increased their price objective on Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the stock a “market perform” rating in a research report on Friday, May 10th. Royal Bank of Canada decreased their price objective 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. National Bank Financial cut Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. Finally, StockNews.com cut Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Friday, May 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Atlantica Sustainable Infrastructure has an average rating of “Hold” and a consensus price target of $23.00.

Read Our Latest Research Report on AY

Institutional Trading of Atlantica Sustainable Infrastructure

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cetera Advisors LLC grew its holdings in shares of Atlantica Sustainable Infrastructure by 58.3% during the first quarter. Cetera Advisors LLC now owns 16,775 shares of the utilities provider’s stock valued at $310,000 after purchasing an additional 6,177 shares during the last quarter. Beck Bode LLC grew its holdings in shares of Atlantica Sustainable Infrastructure by 30.9% during the first quarter. Beck Bode LLC now owns 609,940 shares of the utilities provider’s stock valued at $11,272,000 after purchasing an additional 143,996 shares during the last quarter. Swedbank AB acquired a new position in shares of Atlantica Sustainable Infrastructure during the first quarter worth approximately $4,103,000. Virtu Financial LLC acquired a new position in shares of Atlantica Sustainable Infrastructure during the first quarter worth approximately $196,000. Finally, Tidal Investments LLC boosted its position in shares of Atlantica Sustainable Infrastructure by 4.4% during the first quarter. Tidal Investments LLC now owns 35,474 shares of the utilities provider’s stock worth $656,000 after buying an additional 1,503 shares during the period. 40.53% of the stock is owned by institutional investors.

Atlantica Sustainable Infrastructure Stock Performance

The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 48.30, a P/E/G ratio of 1.40 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. The company has a 50-day moving average price of $20.09 and a 200-day moving average price of $19.65.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Free Report) last posted its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. The company had revenue of $242.93 million for the quarter, compared to analysts’ expectations of $240.87 million. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. During the same quarter in the prior year, the company earned ($0.09) earnings per share. As a group, equities research analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.46 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.01%. The ex-dividend date of this dividend is Friday, May 31st. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 386.96%.

Atlantica Sustainable Infrastructure Company Profile

(Get Free Report)

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.

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