Analysts Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Target Price at $22.67

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have earned a consensus recommendation of “Hold” from the ten brokerages that are covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $22.67.

A number of research firms have recently commented on AY. Seaport Res Ptn lowered shares of Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Bank of America cut 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 research note on Tuesday, March 26th. National Bankshares increased their target price on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 28th. StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a research note on Tuesday. They set a “sell” rating on the stock. Finally, National Bank Financial lowered 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 Trading Down 0.3 %

NASDAQ:AY opened at $21.99 on Friday. The firm’s fifty day moving average is $22.17 and its 200-day moving average is $20.14. The company has a debt-to-equity ratio of 3.25, a quick ratio of 1.50 and a current ratio of 1.55. Atlantica Sustainable Infrastructure has a 52 week low of $16.35 and a 52 week high of $25.22. The firm has a market cap of $2.55 billion, a P/E ratio of 47.87, a P/E/G ratio of 1.31 and a beta of 1.02.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last posted its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. The company had revenue of $242.93 million for the quarter, compared to analyst estimates of $240.87 million. During the same period in the prior year, the firm posted ($0.09) EPS. Equities analysts expect that Atlantica Sustainable Infrastructure will post 0.46 earnings per share for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.09%. The ex-dividend date of this dividend was Friday, May 31st. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 386.96%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AY. Waterloo Capital L.P. purchased a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $1,995,000. Handelsbanken Fonder AB raised its holdings in shares of Atlantica Sustainable Infrastructure by 9.5% in the fourth quarter. Handelsbanken Fonder AB now owns 17,676 shares of the utilities provider’s stock valued at $380,000 after purchasing an additional 1,537 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $1,138,000. Tritonpoint Wealth LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $4,007,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in shares of Atlantica Sustainable Infrastructure in the fourth quarter valued at about $27,000. 40.53% of the stock is owned by institutional investors.

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.