Brokerages Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Target Price at $23.67

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been assigned a consensus recommendation of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $23.67.

Several brokerages have recently commented on AY. Bank of America lowered their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. StockNews.com cut shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday. BMO Capital Markets lowered their target price on shares of Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, March 5th. Royal Bank of Canada decreased their price objective on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Finally, National Bank Financial cut shares of Atlantica Sustainable Infrastructure from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, April 3rd.

Atlantica Sustainable Infrastructure Stock Down 2.2 %

Atlantica Sustainable Infrastructure stock opened at $19.97 on Tuesday. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $27.32. The company’s 50-day moving average price is $18.26 and its two-hundred day moving average price is $18.99. The stock has a market cap of $2.32 billion, a P/E ratio of 47.55, a P/E/G ratio of 1.10 and a beta of 0.97. The company has a quick ratio of 1.57, a current ratio of 1.62 and a debt-to-equity ratio of 3.14.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last announced its earnings results on Friday, March 1st. The utilities provider reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The company had revenue of $241.31 million for the quarter, compared to analysts’ expectations of $243.81 million. During the same period last year, the firm earned $0.03 earnings per share. As a group, analysts expect that Atlantica Sustainable Infrastructure will post 0.5 EPS for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th were given a $0.445 dividend. 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 8.91%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

Institutional Trading of Atlantica Sustainable Infrastructure

A number of hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its holdings in shares of Atlantica Sustainable Infrastructure by 37.1% during the third quarter. IFP Advisors Inc now owns 2,578 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 698 shares during the period. SG Americas Securities LLC acquired a new position in shares of Atlantica Sustainable Infrastructure during the third quarter worth $280,000. Riverview Trust Co acquired a new position in shares of Atlantica Sustainable Infrastructure during the third quarter worth $43,000. Mission Wealth Management LP lifted its holdings in shares of Atlantica Sustainable Infrastructure by 12.0% during the third quarter. Mission Wealth Management LP now owns 26,175 shares of the utilities provider’s stock worth $500,000 after purchasing an additional 2,809 shares during the period. Finally, Ceredex Value Advisors LLC lifted its holdings in shares of Atlantica Sustainable Infrastructure by 0.6% during the third quarter. Ceredex Value Advisors LLC now owns 463,350 shares of the utilities provider’s stock worth $8,850,000 after purchasing an additional 2,550 shares during the period. Institutional investors and hedge funds own 40.53% of the company’s stock.

About Atlantica Sustainable Infrastructure

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.