Atlantica Sustainable Infrastructure (NASDAQ:AY) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research note published on Friday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY stock opened at $22.13 on Friday. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.20 and a current ratio of 1.25. Atlantica Sustainable Infrastructure has a fifty-two week low of $16.82 and a fifty-two week high of $23.47. The company has a market capitalization of $2.57 billion, a P/E ratio of 76.31, a PEG ratio of 2.15 and a beta of 1.03. The stock has a 50 day moving average price of $22.01 and a two-hundred day moving average price of $22.10.

Atlantica Sustainable Infrastructure Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Friday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 613.81%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds have recently made changes to their positions in AY. Insight Folios Inc raised its stake in Atlantica Sustainable Infrastructure by 2.4% in the third quarter. Insight Folios Inc now owns 24,655 shares of the utilities provider’s stock worth $542,000 after buying an additional 576 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Atlantica Sustainable Infrastructure by 3.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,389 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 637 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Atlantica Sustainable Infrastructure during the 2nd quarter valued at about $30,000. Tidal Investments LLC increased its stake 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 valued at $656,000 after purchasing an additional 1,503 shares in the last quarter. Finally, Private Trust Co. NA raised its stake in Atlantica Sustainable Infrastructure by 362.1% during the third quarter. Private Trust Co. NA now owns 2,546 shares of the utilities provider’s stock valued at $56,000 after buying an additional 1,995 shares during the last quarter. 40.53% of the stock is owned by hedge funds and other institutional investors.

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.