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Morgan Stanley Maintains Atlantica Sustainable Infrastructure (AY) Equal-Weight Recommendation

Fintel reports that on September 20, 2023, Morgan Stanley maintained coverage of Atlantica Sustainable Infrastructure (NASDAQ:AY) with a Equal-Weight recommendation.

Analyst Price Forecast Suggests 43.20% Upside

As of August 31, 2023, the average one-year price target for Atlantica Sustainable Infrastructure is 31.70. The forecasts range from a low of 26.26 to a high of $43.05. The average price target represents an increase of 43.20% from its latest reported closing price of 22.14.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Atlantica Sustainable Infrastructure is 1,270MM, an increase of 15.31%. The projected annual non-GAAP EPS is 0.54.

Atlantica Sustainable Infrastructure Declares $0.44 Dividend

On August 1, 2023 the company declared a regular quarterly dividend of $0.44 per share ($1.78 annualized). Shareholders of record as of August 31, 2023 received the payment on September 15, 2023. Previously, the company paid $0.44 per share.

At the current share price of $22.14 / share, the stock’s dividend yield is 8.04%.

Looking back five years and taking a sample every week, the average dividend yield has been 6.05%, the lowest has been 3.67%, and the highest has been 8.68%. The standard deviation of yields is 1.11 (n=235).

The current dividend yield is 1.80 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 13.65. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 305 funds or institutions reporting positions in Atlantica Sustainable Infrastructure. This is a decrease of 8 owner(s) or 2.56% in the last quarter. Average portfolio weight of all funds dedicated to AY is 0.40%, a decrease of 11.94%. Total shares owned by institutions decreased in the last three months by 4.45% to 56,010K shares. The put/call ratio of AY is 0.77, indicating a bullish outlook.

What are Other Shareholders Doing?

AY / Atlantica Sustainable Infrastructure Plc Shares Held by Institutions

Wellington Management Group Llp holds 4,846K shares representing 4.17% ownership of the company. In it’s prior filing, the firm reported owning 4,167K shares, representing an increase of 14.02%. The firm decreased its portfolio allocation in AY by 12.00% over the last quarter.

Kayne Anderson Capital Advisors holds 4,786K shares representing 4.12% ownership of the company. In it’s prior filing, the firm reported owning 4,834K shares, representing a decrease of 1.01%. The firm decreased its portfolio allocation in AY by 37.19% over the last quarter.

Amundi holds 2,911K shares representing 2.51% ownership of the company. In it’s prior filing, the firm reported owning 2,549K shares, representing an increase of 12.42%. The firm increased its portfolio allocation in AY by 1,260.01% over the last quarter.

Invesco holds 2,894K shares representing 2.49% ownership of the company. In it’s prior filing, the firm reported owning 3,650K shares, representing a decrease of 26.15%. The firm increased its portfolio allocation in AY by 538.21% over the last quarter.

VEXPX – VANGUARD EXPLORER FUND Investor Shares holds 2,892K shares representing 2.49% ownership of the company. No change in the last quarter.

Atlantica Sustainable Infrastructure Background Information
(This description is provided by the company.)

Atlantica Sustainable Infrastructure plc is a sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy, efficient natural gas, electric transmission and water assets in North and South America, and certain markets in EMEA.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

Fintel reports that on September 20, 2023, Morgan Stanley maintained coverage of Atlantica Sustainable Infrastructure (NASDAQ:AY) with a Equal-Weight recommendation. Analyst Price Forecast Suggests 43.20% Upside As of August 31, 2023, the average one-year price target for Atlantica Sustainable Infrastructure is 31.70. The forecasts range from a low of 26.26 to a high of $43.05. The average price target represents an increase of 43.20% from its latest reported closing price of 22.14.

See our leaderboard of companies with the largest price target upside. The projected annual revenue for Atlantica Sustainable Infrastructure is 1,270MM, an increase of 15.31%. The projected annual non-GAAP EPS is 0.54. Atlantica Sustainable Infrastructure Declares $0.44 Dividend On August 1, 2023 the company declared a regular quarterly dividend of $0.44 per share ($1.78 annualized). Shareholders of record as of August 31, 2023 received the payment on September 15, 2023. Previously, the company paid $0.44 per share. At the current share price of $22.14 / share, the stock’s dividend yield is 8.04%. Looking back five years and taking a sample every week, the average dividend yield has been 6.05%, the lowest has been 3.67%, and the highest has been 8.68%. The standard deviation of yields is 1.11 (n=235).

The current dividend yield is 1.80 standard deviations above the historical average. Additionally, the company’s dividend payout ratio is 13.65. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5. The company’s 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time. What is the Fund Sentiment? There are 305 funds or institutions reporting positions in Atlantica Sustainable Infrastructure. This is a decrease of 8 owner(s) or 2.56% in the last quarter. Average portfolio weight of all funds dedicated to AY is 0.40%, a decrease of 11.94%. Total shares owned by institutions decreased in the last three months by 4.45% to 56,010K shares. The put/call ratio of AY is 0.77, indicating a bullish outlook. What are Other Shareholders Doing? Wellington Management Group Llp holds 4,846K shares representing 4.17% ownership of the company. In it’s prior filing, the firm reported owning 4,167K shares, representing an increase of 14.02%. The firm decreased its portfolio allocation in AY by 12.00% over the last quarter.

Kayne Anderson Capital Advisors holds 4,786K shares representing 4.12% ownership of the company. In it’s prior filing, the firm reported owning 4,834K shares, representing a decrease of 1.01%. The firm decreased its portfolio allocation in AY by 37.19% over the last quarter. Amundi holds 2,911K shares representing 2.51% ownership of the company. In it’s prior filing, the firm reported owning 2,549K shares, representing an increase of 12.42%. The firm increased its portfolio allocation in AY by 1,260.01% over the last quarter. Invesco holds 2,894K shares representing 2.49% ownership of the company. In it’s prior filing, the firm reported owning 3,650K shares, representing a decrease of 26.15%. The firm increased its portfolio allocation in AY by 538.21% over the last quarter. VEXPX – VANGUARD EXPLORER FUND Investor Shares holds 2,892K shares representing 2.49% ownership of the company. No change in the last quarter. Atlantica Sustainable Infrastructure Background Information(This description is provided by the company.)

Atlantica Sustainable Infrastructure plc is a sustainable infrastructure company that owns a diversified portfolio of contracted renewable energy, efficient natural gas, electric transmission and water assets in North and South America, and certain markets in EMEA. Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn MoreThis story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/morgan-stanley-maintains-atlantica-sustainable-infrastructure-ay-equal-weight Morgan Stanley Maintains Atlantica Sustainable Infrastructure (AY) Equal-Weight Recommendation

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