Atlantica Sustainable Infrastructure (NASDAQ:AY) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a report released on Tuesday. The firm issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Stock Performance

AY stock opened at $21.99 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. Atlantica Sustainable Infrastructure has a 12-month low of $16.82 and a 12-month high of $23.47. The stock has a market capitalization of $2.55 billion, a PE ratio of 75.83, a price-to-earnings-growth ratio of 2.14 and a beta of 1.00. The stock’s 50 day simple moving average is $22.03 and its 200 day simple moving average is $22.02.

Atlantica Sustainable Infrastructure Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Friday, November 29th were paid 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 is presently 306.91%.

Hedge Funds Weigh In On Atlantica Sustainable Infrastructure

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Atlantica Sustainable Infrastructure during the second quarter valued at $30,000. Public Employees Retirement System of Ohio bought a new stake in shares of Atlantica Sustainable Infrastructure in the 3rd quarter worth about $44,000. Private Trust Co. NA raised its position in shares of Atlantica Sustainable Infrastructure by 362.1% during the 3rd quarter. Private Trust Co. NA now owns 2,546 shares of the utilities provider’s stock valued at $56,000 after buying an additional 1,995 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of Atlantica Sustainable Infrastructure by 499.4% in the 2nd quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider’s stock valued at $90,000 after acquiring an additional 3,411 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in Atlantica Sustainable Infrastructure by 433.5% in the third quarter. BNP Paribas Financial Markets now owns 7,463 shares of the utilities provider’s stock worth $164,000 after acquiring an additional 6,064 shares in the last quarter. Hedge funds and other institutional investors own 40.53% of the company’s stock.

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.