Regent Investment Management LLC decreased its position in shares of Atlantica Sustainable Infrastructure plc (NASDAQ:AY – Get Rating) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure 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 institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Atlantica Sustainable Infrastructure by 23.9% in the 1st quarter. Invesco Ltd. now owns 3,124,558 shares of the utilities provider’s stock valued at $109,577,000 after purchasing an additional 601,826 shares during the last quarter. Dai Ichi Life Insurance Company Ltd purchased a new position in shares of Atlantica Sustainable Infrastructure in the 1st quarter valued at approximately $5,962,000. Kayne Anderson Capital Advisors LP boosted its stake in shares of Atlantica Sustainable Infrastructure by 5.0% in the first quarter. Kayne Anderson Capital Advisors LP now owns 3,141,380 shares of the utilities provider’s stock valued at $110,168,000 after buying an additional 150,295 shares in the last quarter. Advisors Capital Management LLC boosted its stake in shares of Atlantica Sustainable Infrastructure by 28.8% in the first quarter. Advisors Capital Management LLC now owns 537,461 shares of the utilities provider’s stock valued at $18,849,000 after buying an additional 120,024 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Atlantica Sustainable Infrastructure by 5.3% in the first quarter. BlackRock Inc. now owns 2,097,975 shares of the utilities provider’s stock valued at $73,575,000 after buying an additional 105,043 shares in the last quarter. Institutional investors and hedge funds own 40.05% of the company’s stock.
Atlantica Sustainable Infrastructure Trading Down 3.9 %
Shares of NASDAQ:AY traded down $1.17 during midday trading on Friday, reaching $29.10. The company’s stock had a trading volume of 5,297 shares, compared to its average volume of 502,129. The business has a 50 day moving average price of $33.75 and a 200 day moving average price of $33.26. Atlantica Sustainable Infrastructure plc has a 1 year low of $28.82 and a 1 year high of $41.32. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of -184.88 and a beta of 0.74. The company has a quick ratio of 2.01, a current ratio of 2.07 and a debt-to-equity ratio of 2.98.
Atlantica Sustainable Infrastructure Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.445 dividend. This is a positive change from Atlantica Sustainable Infrastructure’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.78 annualized dividend and a yield of 6.12%. Atlantica Sustainable Infrastructure’s dividend payout ratio (DPR) is presently -1,112.50%.
Analysts Set New Price Targets
A number of analysts recently weighed in on the company. BMO Capital Markets lifted their price target on Atlantica Sustainable Infrastructure from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, August 4th. JPMorgan Chase & Co. lifted their price target on Atlantica Sustainable Infrastructure from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. UBS Group lifted their price objective on Atlantica Sustainable Infrastructure from $33.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. Finally, Bank of America cut Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $34.00 in a report on Monday. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.88.
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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