StockNews.com Begins Coverage on Atlantica Sustainable Infrastructure (NASDAQ:AY)

StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research report released on Monday. The brokerage issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Stock Performance

AY opened at $21.99 on Monday. The firm has a market capitalization of $2.55 billion, a price-to-earnings ratio of 75.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company’s 50 day simple moving average is $22.03 and its two-hundred day simple moving average is $22.02. Atlantica Sustainable Infrastructure has a 1-year low of $16.82 and a 1-year high of $23.47. 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 business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 29th were issued a dividend of $0.2225 per share. The ex-dividend date was Friday, November 29th. This represents a $0.89 annualized dividend and a dividend yield of 4.05%. Atlantica Sustainable Infrastructure’s dividend payout ratio is presently 306.91%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Hedge funds have recently modified their holdings of the company. Insight Folios Inc raised its holdings in Atlantica Sustainable Infrastructure by 2.4% in the 3rd quarter. Insight Folios Inc now owns 24,655 shares of the utilities provider’s stock valued at $542,000 after buying an additional 576 shares during the period. Vanguard Personalized Indexing Management LLC increased its position in shares of Atlantica Sustainable Infrastructure by 3.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,389 shares of the utilities provider’s stock valued at $382,000 after acquiring an additional 637 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Atlantica Sustainable Infrastructure during the second quarter valued at about $30,000. Private Trust Co. NA raised its stake in shares of Atlantica Sustainable Infrastructure by 362.1% in the 3rd quarter. Private Trust Co. NA now owns 2,546 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 1,995 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Atlantica Sustainable Infrastructure in the 3rd quarter worth approximately $44,000. Hedge funds and other institutional investors 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.