Atlantica Sustainable Infrastructure plc (NASDAQ:AY) Seen Running Too Hot, Let’s Look At This More Closely


Kayne Anderson Capital Advisors L… recently announced the acquisition of new stake in Atlantica Sustainable Infrastructure plc (NASDAQ:AY). The institutional investor has increased its shareholding in the Utilities company by 33.88% to 2.28 million shares with purchase of 0.58 million shares. This fresh investment now brings its stake to 2.25% valued currently at $59.76 million. In addition, Invesco Capital Management LLC raised its holdings by 0.17 million to 1.24 million shares. And BlackRock Advisors (UK) Ltd. has lifted its position by 139.76% or 0.59 million shares – to 1.02 million shares.

With over 0.27 million Atlantica Sustainable Infrastructure plc (AY) shares trading Monday and a closing price of $29.53 on the day, the dollar volume was approximately $7.88 million. The shares have shown a positive weekly performance of 3.61% and its price on 07/06/20 lost nearly -0.71%. Currently, there are 101.60M common shares owned by the public and among those 56.33M shares have been available to trade.

An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for AY have a consensus price objective of $31.25. The analysts have set the share’s price value over the next 12 months at a high of $34.00 and a low of $26.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Atlantica Sustainable Infrastructure plc stock is 2.00 for the next 12 months. The average price target is 5.5% above its last price level and an upside to the estimated low will see the stock lose -13.58% over that period. But an upside of 13.15% will see the stock hit the forecast high price target while mean target price for the stock is $32.50.

Insiders at the company have nil transactions over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC).

The top 3 mutual fund holders in Atlantica Sustainable Infrastructure plc are Government Pension Fund – Global, iShares II Plc – Global Clean Ene, and iShares Global Clean Energy ETF. Government Pension Fund – Global owns 1.21 million shares of the company’s stock, all valued at over $31.71 million. The company sold -0.54 million shares recently to bring their total holdings to about 1.19% of the shares outstanding. iShares II Plc – Global Clean Ene bought 10736.0 shares to see its total holdings expand to 1.16 million shares valued at over $30.51 million and representing 1.15% of the shares outstanding. iShares Global Clean Energy ETF bought 1695.0 shares to bring its total holdings to over 0.93 million shares at a value of $24.39 million. iShares Global Clean Energy ETF now owns shares totaling to 0.92% of the shares outstanding.

Shares of Atlantica Sustainable Infrastructure plc (NASDAQ: AY) opened at $30.00, up $0.26 from a prior closing price of $29.74. However, the script later closed the day at $29.53, down -0.71%. The company’s stock has a 5-day price change of 3.61% and 40.15% over the past three months. AY shares are trading 11.90% year to date (YTD), with the 12-month market performance up to 27.39% higher. It has a 12-month low price of $17.74 and touched a high of $32.50 over the same period. Currently, 0.27 million shares have been traded, compared to an average intraday trading volume of 450.63K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.26%, 13.03%, and 14.96% respectively.

Institutional ownership of Atlantica Sustainable Infrastructure plc (NASDAQ: AY) shares accounts for 45.30% of the company’s 101.60M shares outstanding. Mutual fund holders own 19.73%, while other institutional holders and individual stakeholders account for 23.75% and — respectively.

It has a market capitalization of $3.00B and a beta (3y monthly) value of 0.81. The stock’s trailing 12-month PE ratio is 97.46, while the earnings-per-share (ttm) stands at $0.30. The company has a PEG of 1.97 and a Quick Ratio of 1.20 with the debt-to-equity ratio at 4.06. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.25% over the week and 2.69% over the month.

Analysts forecast that Atlantica Sustainable Infrastructure plc (AY) will achieve an EPS of $0.3 for the current quarter, $0.79 for the next quarter and $1.24 for 2021. The lowest estimate earnings-per-share for the quarter is $0.15 while analysts give the company a high EPS estimate of $0.46. Comparatively, EPS for the current quarter was $0.27 a year ago. Earnings per share for the fiscal year are expected to increase by 48.10%, and 73.49% over the next financial year. EPS should shrink at an annualized rate of 49.50% over the next five years, compared to 75.30% over the past 5-year period.

If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Atlantica Sustainable Infrastructure plc (AY) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 1 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”

Looking at the support for the AY, a number of firms have released research notes about the stock. Morgan Stanley stated their Overweight rating for the stock in a research note on June 17, 2020, with the firm’s price target at $34. RBC Capital Mkts coverage for the Atlantica Sustainable Infrastructure plc (AY) stock in a research note released on January 15, 2020 offered a Sector Perform rating with a price target of . Citigroup was of a view on January 07, 2019 that the stock is Buy, while Deutsche Bank gave the stock Buy rating on September 28, 2018.


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