Regent Investment Management LLC decreased its holdings in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Get Rating) by 6.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,860 shares of the utilities provider’s stock after selling 2,600 shares during the period. Regent Investment Management LLC’s holdings in Atlantica Sustainable Infrastructure were worth $1,286,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Clearstead Advisors LLC increased its holdings in shares of Atlantica Sustainable Infrastructure by 1,330.2% during the fourth quarter. Clearstead Advisors LLC now owns 758 shares of the utilities provider’s stock worth $27,000 after buying an additional 705 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Atlantica Sustainable Infrastructure by 122.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,000 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 550 shares during the period. Quent Capital LLC bought a new position in shares of Atlantica Sustainable Infrastructure during the fourth quarter worth $36,000. Lazard Asset Management LLC boosted its position in shares of Atlantica Sustainable Infrastructure by 200.0% during the first quarter. Lazard Asset Management LLC now owns 1,383 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 922 shares in the last quarter. Finally, Credit Agricole S A boosted its position in shares of Atlantica Sustainable Infrastructure by 25.4% during the fourth quarter. Credit Agricole S A now owns 2,855 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 579 shares in the last quarter. Institutional investors and hedge funds own 40.05% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Atlantica Sustainable Infrastructure from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, August 8th. UBS Group lifted their price target on shares of Atlantica Sustainable Infrastructure from $33.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, August 4th. BMO Capital Markets boosted their price objective on shares of Atlantica Sustainable Infrastructure from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, August 4th. Finally, Bank of America cut shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their price objective for the company from $37.00 to $34.00 in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.88.
Atlantica Sustainable Infrastructure Stock Down 3.9 %
Atlantica Sustainable Infrastructure (NASDAQ:AY – Get Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.17). Atlantica Sustainable Infrastructure had a negative net margin of 1.66% and a negative return on equity of 1.08%. The business had revenue of $307.83 million during the quarter, compared to analyst estimates of $338.04 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, equities research analysts predict that Atlantica Sustainable Infrastructure plc will post 0.49 EPS for the current year.
Atlantica Sustainable Infrastructure Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.445 per share. The ex-dividend date was Tuesday, August 30th. This is a positive change from Atlantica Sustainable Infrastructure’s previous quarterly dividend of $0.44. This represents a $1.78 annualized dividend and a dividend yield of 6.12%. Atlantica Sustainable Infrastructure’s payout ratio is currently -1,112.50%.
About Atlantica Sustainable Infrastructure
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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