Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Large Volume Increase

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) saw an uptick in trading volume on Tuesday . 1,096,555 shares traded hands during trading, an increase of 28% from the previous session’s volume of 854,812 shares.The stock last traded at $17.00 and had previously closed at $17.41.

Analyst Ratings Changes

Several research firms have recently issued reports on AY. Royal Bank of Canada dropped their price target on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. National Bank Financial downgraded Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, April 3rd. Bank of America lowered their price target 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. UBS Group upgraded shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and boosted their target price for the company from $19.00 to $25.00 in a report on Friday, March 22nd. Finally, StockNews.com downgraded Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and an average price target of $23.67.

Atlantica Sustainable Infrastructure Trading Down 0.6 %

The stock’s 50 day simple moving average is $18.25 and its 200 day simple moving average is $18.94. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62. The firm has a market cap of $2.01 billion, a PE ratio of 40.43, a PEG ratio of 1.02 and a beta of 0.97.

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 return on equity of 2.91% and a net margin of 4.43%. The firm had revenue of $241.31 million during the quarter, compared to analysts’ expectations of $243.81 million. During the same period in the prior year, the business earned $0.03 EPS. On average, sell-side analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.49 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were issued a dividend of $0.445 per share. The ex-dividend date of this dividend was Monday, March 11th. This represents a $1.78 dividend on an annualized basis and a yield of 10.28%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Several institutional investors and hedge funds have recently bought and sold shares of the business. Advisor Group Holdings Inc. grew its position in shares of Atlantica Sustainable Infrastructure by 39.4% in the 1st quarter. Advisor Group Holdings Inc. now owns 13,014 shares of the utilities provider’s stock worth $415,000 after buying an additional 3,676 shares during the period. Citigroup Inc. boosted its holdings in Atlantica Sustainable Infrastructure by 37.4% in the first quarter. Citigroup Inc. now owns 111,622 shares of the utilities provider’s stock worth $3,915,000 after purchasing an additional 30,406 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Atlantica Sustainable Infrastructure by 122.2% during the 1st 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. Bank of Montreal Can increased its stake in shares of Atlantica Sustainable Infrastructure by 50.1% in the first quarter. Bank of Montreal Can now owns 53,967 shares of the utilities provider’s stock worth $1,881,000 after purchasing an additional 18,014 shares in the last quarter. Finally, BlackRock Inc. raised its position in Atlantica Sustainable Infrastructure by 5.3% during the first quarter. BlackRock Inc. now owns 2,097,975 shares of the utilities provider’s stock valued at $73,575,000 after purchasing an additional 105,043 shares during the period. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Company Profile

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.