Atlantica Sustainable Infrastructure (NASDAQ:AY) PT Lowered to $20.00 at Bank of America

Atlantica Sustainable Infrastructure (NASDAQ:AY) had its target price decreased by Bank of America from $22.00 to $20.00 in a research report released on Tuesday, Benzinga reports. Bank of America currently has a buy rating on the utilities provider’s stock.

Other analysts also recently issued reports about the company. BMO Capital Markets decreased their price target on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a market perform rating for the company in a report on Tuesday, March 5th. Royal Bank of Canada reduced their price target on shares of Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an outperform rating for the company in a research report on Monday, March 4th. Finally, UBS Group raised Atlantica Sustainable Infrastructure from a neutral rating to a buy rating and boosted their target price for the company from $19.00 to $25.00 in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $23.67.

Atlantica Sustainable Infrastructure Trading Up 1.7 %

Shares of AY stock opened at $18.48 on Tuesday. The company has a 50-day moving average of $18.45 and a two-hundred day moving average of $19.23. The firm has a market cap of $2.14 billion, a PE ratio of 44.00 and a beta of 0.97. Atlantica Sustainable Infrastructure has a 1-year low of $16.35 and a 1-year high of $29.81. The company has a debt-to-equity ratio of 3.14, a current ratio of 1.62 and a quick ratio of 1.57.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings results on Friday, March 1st. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.25. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The company had revenue of $241.31 million for the quarter, compared to analyst estimates of $243.81 million. During the same period in the prior year, the firm earned $0.03 earnings per share. On average, analysts predict that Atlantica Sustainable Infrastructure will post 0.4 EPS for the current year.

Atlantica Sustainable Infrastructure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 9.63%. The ex-dividend date of this dividend was Monday, March 11th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 423.82%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of large investors have recently bought and sold shares of the stock. Advisor Group Holdings Inc. raised its position in shares of Atlantica Sustainable Infrastructure by 39.4% in the first quarter. Advisor Group Holdings Inc. now owns 13,014 shares of the utilities provider’s stock valued at $415,000 after buying an additional 3,676 shares during the last quarter. Citigroup Inc. raised its holdings in Atlantica Sustainable Infrastructure by 37.4% in the 1st quarter. Citigroup Inc. now owns 111,622 shares of the utilities provider’s stock valued at $3,915,000 after acquiring an additional 30,406 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Atlantica Sustainable Infrastructure by 122.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 550 shares during the period. Bank of Montreal Can boosted its holdings in shares of Atlantica Sustainable Infrastructure by 50.1% during the first quarter. Bank of Montreal Can now owns 53,967 shares of the utilities provider’s stock worth $1,881,000 after purchasing an additional 18,014 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of Atlantica Sustainable Infrastructure by 5.3% in the first quarter. BlackRock Inc. now owns 2,097,975 shares of the utilities provider’s stock valued at $73,575,000 after purchasing an additional 105,043 shares during the period. Institutional investors and hedge funds 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.