Atlantica Sustainable Infrastructure (NASDAQ:AY) Now Covered by Analysts at StockNews.com

StockNews.com began coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a research note released on Monday morning. The brokerage issued a sell rating on the utilities provider’s stock.

Atlantica Sustainable Infrastructure Stock Performance

NASDAQ:AY opened at $21.99 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.20 and a debt-to-equity ratio of 3.36. The firm’s fifty day simple moving average is $22.03 and its 200 day simple moving average is $22.02. The firm has a market capitalization of $2.55 billion, a PE ratio of 75.83, a PEG ratio of 2.14 and a beta of 1.00. Atlantica Sustainable Infrastructure has a 1 year low of $16.82 and a 1 year high of $23.47.

Atlantica Sustainable Infrastructure Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Friday, November 29th were paid a $0.2225 dividend. This represents a $0.89 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Friday, November 29th. Atlantica Sustainable Infrastructure’s payout ratio is presently 306.91%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Alpine Associates Management Inc. grew its position 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 during the last quarter. Melqart Asset Management UK Ltd raised its holdings in Atlantica Sustainable Infrastructure by 4.2% in 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 during the period. Westchester Capital Management LLC lifted its holdings in Atlantica Sustainable Infrastructure by 305.3% during the third quarter. Westchester Capital Management LLC now owns 1,143,722 shares of the utilities provider’s stock worth $25,139,000 after acquiring an additional 861,541 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter valued at approximately $13,719,000. Finally, Glazer Capital LLC bought a new stake in shares of Atlantica Sustainable Infrastructure during the second quarter worth $13,629,000. 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.