Sustainable Infrastructure Atlantica (NASDAQ:AY) Downgraded to ‘Neutral’ at UBS Group

The UBS Group downgraded the company’s shares Sustainable Infrastructure Atlantic (NASDAQ:AY – Free Report) from a buy rating to a neutral rating in the report published on Thursday, says MarketBeat Ratings. The brokerage now has a $22.00 price target for shares of the utilities provider, up from a prior price target of $25.00.

AY has been the subject of several other reports. Bank of America lowered their target price on Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 26. Royal Bank of Canada lowered their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an Outperform rating for the company in a research note on Monday, March 4. In a research note dated Wednesday, April 3, the National Bank of Finance downgraded Atlantica Sustainable Infrastructure from “outperform” to “best for sector.” National Bankshares raised their price target on Sustainable Infrastructure Atlantica from $20.00 to $22.00 and gave the stock a sector rating in a research note on Tuesday. Finally, on Friday, May 17, StockNews.com downgraded Atlantica Sustainable Infrastructure from hold to sell. One equity research analyst rated the stock with a sell rating, eight with a hold rating, and two with a buy rating. According to MarketBeat, the company has an average rating of Hold and an average price target of $22.67.

Download our latest stock report on Atlantica Sustainable Infrastructure

Atlantica Sustainable Infrastructure Price Performance

Shares of Atlantica Sustainable Infrastructure opened at $22.39 on Thursday. The stock has a 50-day moving average of $20.29 and a 200-day moving average of $19.69. Sustainable Infrastructure Atlantica has a 12 month low of $16.35 and a 12 month high of $25.22. The company has a market capitalization of $2.60 billion, a PE ratio of 48.67, a PEG ratio of 1.32 and a beta of 0.94. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt to equity ratio of 3.25.

Atlantica Sustainable Infrastructure ( NASDAQ:AY – Get Free Report ) last announced its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a return on equity of 3.33% and a net margin of 4.94%. The company had revenue of $242.93 million for the quarter, compared to analyst estimates of $240.87 million. In the same period of the previous year, the company achieved earnings per share ($0.09). Analysts on average expect Atlantica Sustainable Infrastructure to post 0.46 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14. Stockholders of record on Friday, May 31 will receive a dividend of $0.445 per share. The ex-dividend date is Friday, May 31. This translates into an annual dividend of $1.78 and a yield of 7.95%. Atlantica Sustainable Infrastructure’s payout ratio is currently 386.96%.

Institutional inflows and outflows

Many institutional investors and hedge funds have recently made changes to their positions in AY. Robeco Institutional Asset Management BV acquired a new position in shares of Atlantica Sustainable Infrastructure during the 4th quarter valued at $27,000. Rational Advisors LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 113.8% during the first quarter. Rational Advisors LLC now owns 1,926 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,025 shares during the period. Riverview Trust Co purchased a new position in Atlantica Sustainable Infrastructure during the first quarter valued at $42,000. Clear Street Markets LLC purchased a new position in Atlantica Sustainable Infrastructure during the 3rd quarter valued at $50,000. Finally, Clean Yield Group increased its holdings in Atlantica Sustainable Infrastructure by 71.4% during the fourth quarter. Clean Yield Group now owns 6,000 shares of the utilities provider’s stock valued at $129,000 after purchasing an additional 2,500 shares in the last quarter. 40.53% of the shares are currently owned by hedge funds and other institutional investors.

Sustainable infrastructure company Atlantica profile

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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 previously known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.

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