CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Buys Shares of 245,000 Atlantica Sustainable Infrastructure plc (NASDAQ:AY)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 245,000 shares of the utilities provider's stock, valued at approximately $5,385,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.21% of Atlantica Sustainable Infrastructure at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Atlantica Sustainable Infrastructure in the second quarter valued at $30,000. Riverview Trust Co purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth about $42,000. Headlands Technologies LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 499.4% during the 2nd quarter. Headlands Technologies LLC now owns 4,094 shares of the utilities provider's stock worth $90,000 after acquiring an additional 3,411 shares in the last quarter. Covestor Ltd boosted its stake in shares of Atlantica Sustainable Infrastructure by 12.8% during the 1st quarter. Covestor Ltd now owns 9,385 shares of the utilities provider's stock worth $173,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Atlantica Sustainable Infrastructure during the 1st quarter worth about $196,000. 40.53% of the stock is owned by hedge funds and other institutional investors.

Atlantica Sustainable Infrastructure Price Performance

Shares of Atlantica Sustainable Infrastructure stock remained flat at $21.97 during mid-day trading on Tuesday. 763,936 shares of the stock traded hands, compared to its average volume of 1,234,813. The firm's 50-day simple moving average is $22.00 and its 200-day simple moving average is $21.67. Atlantica Sustainable Infrastructure plc has a twelve month low of $16.35 and a twelve month high of $23.47. The company has a current ratio of 1.35, a quick ratio of 1.30 and a debt-to-equity ratio of 3.26. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 47.78, a P/E/G ratio of 2.14 and a beta of 1.03.

Atlantica Sustainable Infrastructure (NASDAQ:AY - Get Free Report) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a net margin of 3.59% and a return on equity of 2.54%. The company had revenue of $328.26 million during the quarter, compared to analyst estimates of $315.07 million. Sell-side analysts expect that Atlantica Sustainable Infrastructure plc will post 0.28 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 8.10%. The ex-dividend date was Friday, August 30th. Atlantica Sustainable Infrastructure's payout ratio is 386.96%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a research note on Monday. They set a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $22.67.

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.