According to Bloomberg.com, the business has an average “Hold” rating from the ten analysts who track Atlantica Sustainable Infrastructure plc (NASDAQ: AY). Two analysts recommended purchasing the stock, and one recommended selling it. Three analysts provided buying recommendations for the stock. The average 12-month price objective for brokerages that have updated their coverage of the stock over the past year is $36.63.
Recently, reports on AY were published by several brokerages. In a research note released on November 10, BMO Capital Markets upgraded Atlantica Sustainable Infrastructure to “market perform” and increased its price objective for the stock from $28.00 to $30.00. Bank of America downgraded shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $34.00 in a research report published on Monday, September 19. In a research note released on November 10, the Royal Bank of Canada decreased its price objective for shares of Atlantica Sustainable Infrastructure from $38.00 to $34.00. The bank also designated the shares as “sector perform.” StockNews.com lowered shares of Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a research report on Friday, November 11. Finally, TheStreet last week lowered the shares of Atlantica Sustainable Infrastructure from a “c-” rating to a “d+” rating in a research report on Tuesday, November 29.
Hedge funds and other institutional investors have recently acquired and sold shares in the business. Invesco Ltd. increased its stake in Atlantica Sustainable Infrastructure by 23.9% during the first quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock, worth $109,577,000, after acquiring an additional 601,826 shares in the last quarter. Ceredex Value Advisors LLC made a new investment of $12,393,000 in Atlantica Sustainable Infrastructure during the second quarter. Kayne Anderson Capital Advisors LP increased its stake in Atlantica Sustainable Infrastructure by 11.9% during the second quarter. Kayne Anderson Capital Advisors LP increased its stake in the utilities provider’s stock by 373,574 during the most recent quarter. Kayne Anderson Capital Advisors LP currently owns 3,514,954 shares, valued at $113,393,000. Bank of New York Mellon Corp. increased its investment in Atlantica Sustainable Infrastructure by $7,547,000 during the third quarter. Not to mention, Amundi increased its stake in Atlantica Sustainable Infrastructure by 19.5% during the second quarter. For a total of 1,661,875 shares, worth $53,465,000, Amundi purchased an extra 27,159 shares of the utilities provider’s stock during the most recent quarter. Institutional investors and hedge funds own 40.05 percent of the company’s shares.
AY shares began trading on Monday at $27.48. Atlantica Sustainable Infrastructure has a 12-month low of $24.42 and a 12-month high of $39.41. The company’s 50-day moving average is $27.18, and its 200-day moving average is $31.14. The stock has a $3.09 billion market cap, a PE ratio of -161.64, and a beta value of 0.82. The company’s current quick, current, and debt-to-equity ratios are 2.17, 2.11, and 2.87, respectively.
The company also announced a quarterly dividend that would be paid on December 15. A dividend payment of $0.445 per share will be payable to stockholders with records as of November 30. On Tuesday, November 29, the dividend is due. This has a $1.78 annual dividend and a yield of 6.48%. Atlantica Sustainable Infrastructure has a payout ratio of -1,047.00%.
The company Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets throughout the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. The organization comprises 39 assets, including 1,229 miles of electric transmission lines, 1,044 MW of renewable energy, 343 MW of natural gas-fired electricity, 55 MW of thermal capacity for district heating, and assets capable of desalinating 17.5 million cubic feet of water per day.