Sagefield Capital LP Invests $1.64 Million in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Sagefield Capital LP purchased a new stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 74,600 shares of the utilities provider’s stock, valued at approximately $1,637,000. Sagefield Capital LP owned approximately 0.06% of Atlantica Sustainable Infrastructure at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AY. Lazard Asset Management LLC raised its position in shares of Atlantica Sustainable Infrastructure by 110.8% in the 1st quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock valued at $181,595,000 after purchasing an additional 5,164,084 shares in the last quarter. Alpine Associates Management Inc. bought a new position in Atlantica Sustainable Infrastructure during the 2nd quarter valued at $23,699,000. Norges Bank bought a new position in Atlantica Sustainable Infrastructure during the 4th quarter valued at $15,487,000. Picton Mahoney Asset Management acquired a new position in Atlantica Sustainable Infrastructure during the 2nd quarter worth $13,719,000. Finally, Beck Bode LLC increased its position in shares of Atlantica Sustainable Infrastructure by 30.9% in the 1st quarter. Beck Bode LLC now owns 609,940 shares of the utilities provider’s stock worth $11,272,000 after purchasing an additional 143,996 shares during the last quarter. Hedge funds and other institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Price Performance

Shares of AY opened at $22.02 on Tuesday. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.35 and a quick ratio of 1.30. The company has a market cap of $2.56 billion, a P/E ratio of 47.87, a PEG ratio of 2.13 and a beta of 1.03. Atlantica Sustainable Infrastructure plc has a 12 month low of $16.35 and a 12 month high of $23.47. The stock has a fifty day moving average price of $22.04 and a 200 day moving average price of $21.10.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). The firm had revenue of $328.26 million during the quarter, compared to analyst estimates of $315.07 million. Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. On average, research analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.28 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.445 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 8.08%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently 386.96%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. National Bankshares increased their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 28th. StockNews.com began coverage on Atlantica Sustainable Infrastructure in a report on Thursday, September 19th. They set a “sell” rating on the stock. UBS Group downgraded Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and lowered their price target for the company from $25.00 to $22.00 in a report on Thursday, May 30th. Finally, Seaport Res Ptn cut Atlantica Sustainable Infrastructure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Company Profile

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.