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

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been assigned a consensus rating of “Hold” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $22.20.

Separately, StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research report on Wednesday. They set a “sell” rating on the stock.

Institutional Trading of Atlantica Sustainable Infrastructure

Several hedge funds and other institutional investors have recently made changes to their positions in AY. Alpine Associates Management Inc. purchased a new position in Atlantica Sustainable Infrastructure in the 2nd quarter worth approximately $23,699,000. Westchester Capital Management LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 305.3% in the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock worth $25,139,000 after purchasing an additional 861,541 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Atlantica Sustainable Infrastructure in the second quarter worth $13,719,000. Glazer Capital LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure during the second quarter valued at $13,629,000. Finally, Water Island Capital LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure during the second quarter valued at $13,438,000. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ AY opened at $21.99 on Friday. Atlantica Sustainable Infrastructure has a 1 year low of $16.82 and a 1 year high of $23.47. The stock has a market capitalization of $2.55 billion, a P/E ratio of 75.83, a P/E/G ratio of 2.14 and a beta of 1.00. The company’s 50-day moving average is $22.04 and its 200 day moving average is $22.02. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.25 and a quick ratio of 1.20.

Atlantica Sustainable Infrastructure Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 29th were paid a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 4.05%. The ex-dividend date was Friday, November 29th. Atlantica Sustainable Infrastructure’s payout ratio is currently 306.91%.

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.