Atlantic Power (NYSE:AT) (TSE:ATP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday, March 8th.
According to Zacks, “Atlantic Power Corporation is an independent electric power producer that owns interests in a diversified portfolio of independent, non-utility power generation projects and one transmission line situated in major U.S. markets. “
Separately, National Bank Financial set a $2.50 price objective on Atlantic Power and gave the stock a “sector perform” rating in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Atlantic Power has a consensus rating of “Hold” and an average price target of $2.58.
Shares of Atlantic Power (NYSE:AT) remained flat at $$2.10 on Thursday. 1,135,091 shares of the stock were exchanged, compared to its average volume of 931,100. The company has a debt-to-equity ratio of -39.22, a current ratio of 1.27 and a quick ratio of 1.14. The stock has a market cap of $243.62, a PE ratio of -2.44 and a beta of 1.45. Atlantic Power has a 1-year low of $1.80 and a 1-year high of $2.70.
Atlantic Power (NYSE:AT) (TSE:ATP) last posted its earnings results on Thursday, March 1st. The utilities provider reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The business had revenue of $100.00 million during the quarter, compared to analyst estimates of $110.20 million. Atlantic Power had a negative net margin of 21.88% and a positive return on equity of 36.16%. equities research analysts expect that Atlantic Power will post -0.39 EPS for the current year.
In related news, EVP Joseph Cofelice bought 20,000 shares of Atlantic Power stock in a transaction that occurred on Wednesday, March 7th. The stock was purchased at an average cost of $2.10 per share, with a total value of $42,000.00. Following the purchase, the executive vice president now owns 634,762 shares in the company, valued at $1,333,000.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James J. Moore, Jr. acquired 15,394 shares of Atlantic Power stock in a transaction dated Wednesday, March 7th. The shares were acquired at an average price of $2.05 per share, with a total value of $31,557.70. Following the completion of the purchase, the chief executive officer now owns 467,140 shares in the company, valued at $957,637. The disclosure for this purchase can be found here. Insiders purchased a total of 48,894 shares of company stock valued at $101,908 in the last 90 days. 1.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AT. Macquarie Group Ltd. boosted its position in Atlantic Power by 84.8% in the fourth quarter. Macquarie Group Ltd. now owns 135,390 shares of the utilities provider’s stock valued at $318,000 after buying an additional 62,114 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of Atlantic Power by 13.3% during the fourth quarter. Verition Fund Management LLC now owns 1,133,004 shares of the utilities provider’s stock valued at $2,663,000 after acquiring an additional 133,000 shares during the last quarter. Millennium Management LLC raised its stake in shares of Atlantic Power by 21.4% during the fourth quarter. Millennium Management LLC now owns 1,034,059 shares of the utilities provider’s stock valued at $2,430,000 after acquiring an additional 182,458 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Atlantic Power by 12.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 579,734 shares of the utilities provider’s stock valued at $1,362,000 after acquiring an additional 64,700 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Atlantic Power by 50.5% during the fourth quarter. Two Sigma Advisers LP now owns 80,801 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 27,100 shares during the last quarter. Institutional investors and hedge funds own 50.43% of the company’s stock.
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About Atlantic Power
Atlantic Power Corporation (Atlantic Power) owns and operates a fleet of power generation assets in the United States and Canada. The Company’s power generation projects sell electricity to utilities and other commercial customers. Atlantic Power’s segments include East U.S., West U.S. and Canada. The Company’s East U.S.
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