Atlantica Sustainable Infrastructure (NASDAQ:AY) Sees Unusually-High Trading Volume

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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. BMO Capital Markets dropped 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 research note on Tuesday, March 5th. National Bank Financial lowered Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd. UBS Group upgraded shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and raised their price target for the stock from $19.00 to $25.00 in a report on Friday, March 22nd. StockNews.com lowered shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research note on Friday, April 12th. Finally, Bank of America cut their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Atlantica Sustainable Infrastructure presently has an average rating of “Hold” and an average target price of $23.67.

Atlantica Sustainable Infrastructure Price Performance

The business has a 50-day moving average of $18.19 and a 200 day moving average of $18.92. The firm has a market capitalization of $2.05 billion, a P/E ratio of 42.07, a price-to-earnings-growth ratio of 0.97 and a beta of 0.97. The company has a current ratio of 1.62, a quick ratio of 1.57 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $243.81 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. On average, sell-side analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 earnings per share for the current fiscal year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 10.07%. The ex-dividend date was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 423.82%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

A number of large investors have recently made changes to their positions in AY. 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. PNC Financial Services Group Inc. increased its holdings in 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 worth $35,000 after acquiring an additional 550 shares during the period. Point72 Asset Management L.P. purchased a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter worth approximately $27,000. Lazard Asset Management LLC boosted its holdings in Atlantica Sustainable Infrastructure by 200.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,383 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 922 shares during the period. Finally, Creative Planning purchased a new position in shares of Atlantica Sustainable Infrastructure during the 3rd quarter valued at $27,000. 40.53% of the stock is owned by 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.