Gabelli Funds LLC Invests $3.40 Million in Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

Gabelli Funds LLC bought a new position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 154,950 shares of the utilities provider's stock, valued at approximately $3,401,000. Gabelli Funds LLC owned 0.13% of Atlantica Sustainable Infrastructure at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AY. Waterloo Capital L.P. acquired a new position in shares of Atlantica Sustainable Infrastructure in the 4th quarter worth approximately $1,995,000. Hsbc Holdings PLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 4th quarter worth approximately $1,138,000. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 1st quarter worth approximately $1,815,000. Manning & Napier Advisors LLC acquired a new position in shares of Atlantica Sustainable Infrastructure in the 2nd quarter worth approximately $2,195,000. Finally, Swedbank AB acquired a new position in shares of Atlantica Sustainable Infrastructure in the 1st quarter worth approximately $4,103,000. 40.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Seaport Res Ptn downgraded shares of Atlantica Sustainable Infrastructure from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 29th. National Bankshares boosted their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 28th. StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure in a research note on Thursday, September 19th. They issued a "sell" rating for the company. Finally, UBS Group lowered shares of Atlantica Sustainable Infrastructure from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $25.00 to $22.00 in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $22.67.

Atlantica Sustainable Infrastructure Stock Performance

Shares of AY stock opened at $22.00 on Wednesday. The firm has a market capitalization of $2.55 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03. The firm has a fifty day simple moving average of $22.04 and a two-hundred day simple moving average of $21.12. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. Atlantica Sustainable Infrastructure plc has a 12 month low of $16.35 and a 12 month high of $23.47.

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.06). The business had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. Analysts forecast that Atlantica Sustainable Infrastructure plc will post 0.28 EPS for the current fiscal year.

Atlantica Sustainable Infrastructure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $0.445 per share. The ex-dividend date was Friday, August 30th. This represents a $1.78 dividend on an annualized basis and a yield of 8.09%. Atlantica Sustainable Infrastructure's dividend payout ratio (DPR) is presently 386.96%.

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.