StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY - Free Report) in a research report report published on Saturday. The brokerage issued a sell rating on the utilities provider's stock.
Atlantica Sustainable Infrastructure Price Performance
Shares of NASDAQ:AY remained flat at $21.94 during mid-day trading on Friday. The company had a trading volume of 414,886 shares, compared to its average volume of 1,208,866. The stock's 50 day simple moving average is $22.03 and its 200 day simple moving average is $22.09. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 75.66, a PEG ratio of 2.16 and a beta of 1.03. Atlantica Sustainable Infrastructure has a 52 week low of $16.82 and a 52 week high of $23.47. 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 Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Friday, November 29th will be given a dividend of $0.2225 per share. The ex-dividend date is Friday, November 29th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.06%. Atlantica Sustainable Infrastructure's payout ratio is 306.90%.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new stake in Atlantica Sustainable Infrastructure during the second quarter valued at $2,195,000. Swedbank AB purchased a new position in Atlantica Sustainable Infrastructure in the first quarter worth about $4,103,000. Water Island Capital LLC bought a new stake in Atlantica Sustainable Infrastructure during the second quarter worth approximately $13,438,000. Alpine Associates Management Inc. increased its stake in Atlantica Sustainable Infrastructure by 54.0% during the third 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. Finally, Trium Capital LLP purchased a new stake in Atlantica Sustainable Infrastructure during the second quarter valued at approximately $2,010,000. 40.53% of the stock is currently owned by institutional investors.
Atlantica Sustainable Infrastructure Company 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 formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.
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