Brokerages Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) PT at $22.20

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY) have received an average rating of “Hold” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $22.20.

Separately, StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure in a research report on Saturday, November 30th. They set a “sell” rating on the stock.

Atlantica Sustainable Infrastructure Trading Up 0.0 %

Shares of AY opened at $21.97 on Wednesday. The firm’s fifty day moving average is $22.03 and its two-hundred day moving average is $22.07. The stock has a market cap of $2.55 billion, a PE ratio of 75.76, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 3.36. Atlantica Sustainable Infrastructure has a 52-week low of $16.82 and a 52-week high of $23.47.

Atlantica Sustainable Infrastructure Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AY. Alpine Associates Management Inc. grew its holdings in Atlantica Sustainable Infrastructure by 54.0% during the 3rd quarter. Alpine Associates Management Inc. now owns 1,662,509 shares of the utilities provider’s stock worth $36,542,000 after acquiring an additional 582,821 shares in the last quarter. Melqart Asset Management UK Ltd grew its stake in shares of Atlantica Sustainable Infrastructure by 4.2% during the third quarter. Melqart Asset Management UK Ltd now owns 1,337,755 shares of the utilities provider’s stock worth $29,404,000 after purchasing an additional 53,680 shares in the last quarter. Westchester Capital Management LLC increased its holdings in 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 valued at $25,139,000 after buying an additional 861,541 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Atlantica Sustainable Infrastructure in the second quarter valued at $13,719,000. Finally, Glazer Capital LLC purchased a new stake in Atlantica Sustainable Infrastructure during the 2nd quarter worth about $13,629,000. 40.53% of the stock is currently owned by hedge funds and other 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.