Zacks Investment Research upgraded shares of Atlantic Power (NYSE:AT) (TSE:ATP) from a hold rating to a buy rating in a research note published on Wednesday, May 9th. They currently have $2.50 price objective on the utilities provider’s stock.
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. “
Other research analysts have also issued reports about the company. ValuEngine lowered Atlantic Power from a hold rating to a sell rating in a research report on Monday, April 2nd. National Bank Financial set a $2.50 price target on Atlantic Power and gave the company a sector perform rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $2.50.
Shares of Atlantic Power opened at $2.20 on Wednesday, MarketBeat reports. The firm has a market cap of $258.70 million, a PE ratio of 17.69 and a beta of 1.69. Atlantic Power has a 12-month low of $2.27 and a 12-month high of $2.30. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of -54.80.
Atlantic Power (NYSE:AT) (TSE:ATP) last released its quarterly earnings results on Thursday, March 1st. The utilities provider reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). Atlantic Power had a positive return on equity of 184.49% and a negative net margin of 18.76%. The company had revenue of $100.00 million for the quarter, compared to the consensus estimate of $110.20 million. equities research analysts predict that Atlantic Power will post -0.21 EPS for the current fiscal year.
In other Atlantic Power news, CEO James J. Moore, Jr. bought 15,394 shares of the stock in a transaction that occurred on Wednesday, March 7th. The shares were bought at an average price of $2.05 per share, for a total transaction of $31,557.70. Following the acquisition, the chief executive officer now directly owns 467,140 shares of the company’s stock, valued at approximately $957,637. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Cofelice bought 20,000 shares of Atlantic Power stock in a transaction dated Wednesday, March 7th. The shares were bought at an average cost of $2.10 per share, with a total value of $42,000.00. Following the completion of the transaction, the executive vice president now directly owns 634,762 shares in the company, valued at $1,333,000.20. The disclosure for this purchase can be found here. In the last three months, insiders purchased 48,894 shares of company stock worth $101,908. 1.60% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. MetLife Investment Advisors LLC raised its position in Atlantic Power by 274.9% in the 1st quarter. MetLife Investment Advisors LLC now owns 57,588 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 42,226 shares during the period. Cigna Investments Inc. New bought a new stake in shares of Atlantic Power during the 1st quarter valued at about $169,000. Two Sigma Advisers LP boosted its stake in shares of Atlantic Power by 50.5% during the 4th quarter. Two Sigma Advisers LP now owns 80,801 shares of the utilities provider’s stock valued at $190,000 after purchasing an additional 27,100 shares in the last quarter. Citadel Advisors LLC boosted its stake in shares of Atlantic Power by 104.0% during the 4th quarter. Citadel Advisors LLC now owns 90,352 shares of the utilities provider’s stock valued at $212,000 after purchasing an additional 46,069 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in Atlantic Power in the fourth quarter worth about $250,000. Institutional investors own 50.79% of the company’s stock.
Atlantic Power Company Profile
Atlantic Power Corporation owns and operates a fleet of power generation assets in the United States and Canada. As of December 31, 2017, its power generation projects had an aggregate gross electric generation capacity of approximately 1,633 megawatts consisting of interests in 18 operational power generation projects across 9 states in the United States and 2 provinces in Canada.
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