Analysts Set Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Target Price at $22.20

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) has been given an average recommendation of “Hold” by the seven analysts that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $22.20.

Separately, StockNews.com assumed coverage on Atlantica Sustainable Infrastructure in a research report on Wednesday. They issued a “sell” rating for the company.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

A number of hedge funds have recently made changes to their positions in AY. Public Employees Retirement System of Ohio bought a new stake in shares of Atlantica Sustainable Infrastructure during the third quarter valued at about $44,000. Melqart Asset Management UK Ltd raised its position in shares of Atlantica Sustainable Infrastructure by 4.2% during the 3rd quarter. Melqart Asset Management UK Ltd now owns 1,337,755 shares of the utilities provider’s stock worth $29,404,000 after buying an additional 53,680 shares in the last quarter. Centiva Capital LP lifted its position in Atlantica Sustainable Infrastructure by 13.5% in the third quarter. Centiva Capital LP now owns 125,755 shares of the utilities provider’s stock worth $2,764,000 after purchasing an additional 15,000 shares during the period. ClearAlpha Technologies LP boosted its stake in Atlantica Sustainable Infrastructure by 10.1% during the third quarter. ClearAlpha Technologies LP now owns 148,327 shares of the utilities provider’s stock valued at $3,260,000 after buying an additional 13,587 shares in the last quarter. Finally, Athos Capital Ltd grew its holdings in Atlantica Sustainable Infrastructure by 10.1% during the third quarter. Athos Capital Ltd now owns 220,100 shares of the utilities provider’s stock worth $4,838,000 after acquiring an additional 20,100 shares during the period. Institutional investors own 40.53% of the company’s stock.

Atlantica Sustainable Infrastructure Stock Performance

Shares of NASDAQ:AY opened at $21.99 on Friday. The business’s 50-day simple moving average is $22.04 and its 200 day simple moving average is $22.02. Atlantica Sustainable Infrastructure has a one year low of $16.82 and a one year high of $23.47. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.20 and a current ratio of 1.25. The company has a market cap of $2.55 billion, a P/E ratio of 75.83, a PEG ratio of 2.14 and a beta of 1.00.

Atlantica Sustainable Infrastructure Cuts Dividend

The company 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. This represents a $0.89 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Friday, November 29th. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is 306.91%.

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.