Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Announces $0.45 Quarterly Dividend

Atlantica Sustainable Infrastructure plc (NASDAQ:AY) announced a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Friday, May 31st will be paid a dividend of 0.445 per share by the utilities provider on Friday, June 14th. This represents a $1.78 dividend on an annualized basis and a yield of 8.09%. The ex-dividend date of this dividend is Friday, May 31st.

Atlantica Sustainable Infrastructure has increased its dividend by an average of 2.4% annually over the last three years. Atlantica Sustainable Infrastructure has a dividend payout ratio of 258.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Atlantica Sustainable Infrastructure to earn $0.62 per share next year, which means the company may not be able to cover its $1.78 annual dividend with an expected future payout ratio of 287.1%.

Atlantica Sustainable Infrastructure Stock Up 1.6 %

Shares of Atlantica Sustainable Infrastructure stock traded up $0.34 during trading on Thursday, hitting $22.00. 1,561,000 shares of the stock traded hands, compared to its average volume of 1,120,128. The stock has a market cap of $2.55 billion, a P/E ratio of 52.26, a PEG ratio of 1.10 and a beta of 0.94. The company has a fifty day moving average price of $18.68 and a two-hundred day moving average price of $19.20. The company has a debt-to-equity ratio of 3.14, a quick ratio of 1.57 and a current ratio of 1.62. Atlantica Sustainable Infrastructure has a twelve month low of $16.35 and a twelve month high of $26.95.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a net margin of 4.43% and a return on equity of 2.91%. The firm had revenue of $242.93 million during the quarter, compared to analysts’ expectations of $240.87 million. During the same period in the prior year, the company posted ($0.09) earnings per share. Equities research analysts predict that Atlantica Sustainable Infrastructure will post 0.53 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AY. BMO Capital Markets lowered their target price on Atlantica Sustainable Infrastructure from $24.00 to $20.00 and set a “market perform” rating on the stock in a report on Tuesday, March 5th. Bank of America decreased their target price on shares of Atlantica Sustainable Infrastructure from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. UBS Group raised shares of Atlantica Sustainable Infrastructure from a “neutral” rating to a “buy” rating and increased their price target for the stock from $19.00 to $25.00 in a research report on Friday, March 22nd. StockNews.com downgraded Atlantica Sustainable Infrastructure from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. Finally, Royal Bank of Canada cut their target price on Atlantica Sustainable Infrastructure from $26.00 to $24.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $22.75.

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.