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

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

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY opened at $21.99 on Tuesday. 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. 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 1-year low of $16.82 and a 1-year high of $23.47. The business’s 50 day moving average is $22.03 and its 200-day moving average is $22.02.

Atlantica Sustainable Infrastructure Cuts Dividend

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

Institutional Trading of Atlantica Sustainable Infrastructure

Large investors have recently added to or reduced their stakes in the company. Alpine Associates Management Inc. acquired a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at $23,699,000. Westchester Capital Management LLC raised its stake in shares of Atlantica Sustainable Infrastructure by 305.3% in 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 during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Atlantica Sustainable Infrastructure during the second quarter worth approximately $13,719,000. Glazer Capital LLC bought a new stake in shares of Atlantica Sustainable Infrastructure during the second quarter valued at approximately $13,629,000. Finally, Water Island Capital LLC acquired a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter valued at approximately $13,438,000. 40.53% of the stock is owned by institutional investors.

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.