Atlantica Sustainable Infrastructure (NASDAQ:AY) Given a $43.00 Price Target at Raymond James

Raymond James set a $43.00 price objective on Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) in a report released on Tuesday morning, BayStreet.CA reports. The brokerage currently has an outperform rating on the utilities provider’s stock. Raymond James also issued estimates for Atlantica Sustainable Infrastructure’s Q3 2022 earnings at $0.18 EPS, Q4 2022 earnings at ($0.05) EPS, FY2022 earnings at $0.29 EPS and FY2023 earnings at $0.54 EPS.

Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. started coverage on Atlantica Sustainable Infrastructure in a report on Thursday, March 24th. They issued a neutral rating and a $40.00 target price for the company. StockNews.com assumed coverage on shares of Atlantica Sustainable Infrastructure in a research report on Thursday, March 31st. They set a hold rating on the stock. Zacks Investment Research raised Atlantica Sustainable Infrastructure from a strong sell rating to a hold rating in a report on Tuesday, May 3rd. Morgan Stanley lowered their target price on Atlantica Sustainable Infrastructure from $39.00 to $36.00 and set an equal weight rating for the company in a report on Tuesday, April 12th. Finally, BMO Capital Markets began coverage on shares of Atlantica Sustainable Infrastructure in a report on Wednesday, April 6th. They issued a market perform rating and a $37.00 price objective for the company. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $40.30.

Shares of Atlantica Sustainable Infrastructure stock opened at $30.62 on Tuesday. The company has a market cap of $3.44 billion, a P/E ratio of -161.15 and a beta of 0.75. The company has a quick ratio of 1.38, a current ratio of 2.17 and a debt-to-equity ratio of 3.14. Atlantica Sustainable Infrastructure has a 52-week low of $28.82 and a 52-week high of $41.32. The firm’s 50 day moving average price is $33.22 and its 200-day moving average price is $34.80.

Atlantica Sustainable Infrastructure (NASDAQ:AYGet Rating) last posted its quarterly earnings results on Monday, May 9th. The utilities provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.03). Atlantica Sustainable Infrastructure had a negative return on equity of 1.26% and a negative net margin of 1.88%. During the same period in the previous year, the business posted ($0.17) EPS. As a group, equities research analysts forecast that Atlantica Sustainable Infrastructure will post 0.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Tuesday, May 31st will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend is Friday, May 27th. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently -926.27%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC bought a new position in Atlantica Sustainable Infrastructure during the first quarter valued at about $26,976,000. First Trust Advisors LP raised its stake in shares of Atlantica Sustainable Infrastructure by 3.8% in the 1st quarter. First Trust Advisors LP now owns 97,845 shares of the utilities provider’s stock valued at $1,904,000 after acquiring an additional 3,562 shares in the last quarter. Millennium Management LLC acquired a new stake in Atlantica Sustainable Infrastructure in the 2nd quarter worth approximately $448,000. Wells Fargo & Company MN boosted its position in Atlantica Sustainable Infrastructure by 48.6% during the second quarter. Wells Fargo & Company MN now owns 43,434 shares of the utilities provider’s stock worth $1,616,000 after purchasing an additional 14,215 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Atlantica Sustainable Infrastructure by 79.8% during the third quarter. SG Americas Securities LLC now owns 25,688 shares of the utilities provider’s stock valued at $886,000 after purchasing an additional 11,399 shares during the last quarter. 40.05% of the stock is owned by hedge funds and other institutional investors.

Atlantica Sustainable Infrastructure Company Profile (Get Rating)

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in the United States, Canada, Mexico, Peru, Chile, Colombia, Uruguay, Spain, Italy, Algeria, and South Africa. It owns 39 assets comprising 2,044 megawatts (MW) of aggregate renewable energy installed generation capacity; 343 MW of natural gas-fired power generation capacity; 55 thermal megawatts of district heating capacity; 1,229 miles of electric transmission lines; and 17.5 million cubic feet per day of water desalination assets.

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