Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Receives $22.20 Average Price Target from Brokerages

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the company, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.20.

Separately, StockNews.com started coverage on Atlantica Sustainable Infrastructure in a research note on Wednesday. They issued a “sell” rating for the company.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY stock opened at $21.99 on Friday. The business has a 50-day moving average price of $22.04 and a two-hundred day moving average price of $22.02. Atlantica Sustainable Infrastructure has a 12-month low of $16.82 and a 12-month high of $23.47. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 3.36. The firm has a market cap of $2.55 billion, a P/E ratio of 75.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00.

Atlantica Sustainable Infrastructure Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Friday, November 29th were paid a $0.2225 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.89 dividend on an annualized basis and a yield of 4.05%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is currently 306.91%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Atlantica Sustainable Infrastructure in the second quarter valued at about $30,000. Public Employees Retirement System of Ohio bought a new position in Atlantica Sustainable Infrastructure during the 3rd quarter valued at approximately $44,000. Private Trust Co. NA raised its position in Atlantica Sustainable Infrastructure by 362.1% during the 3rd quarter. Private Trust Co. NA now owns 2,546 shares of the utilities provider’s stock valued at $56,000 after purchasing an additional 1,995 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Atlantica Sustainable Infrastructure by 499.4% in the 2nd quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock worth $90,000 after buying an additional 3,411 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Atlantica Sustainable Infrastructure by 433.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,463 shares of the utilities provider’s stock worth $164,000 after buying an additional 6,064 shares during the last quarter. 40.53% of the stock is currently 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.