Atlantic Power (AT) Posts Quarterly Earnings Results

Atlantic Power (NYSE:AT) (TSE:ATP) posted its quarterly earnings data on Thursday, November 1st. The utilities provider reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02, Fidelity Earnings reports. The company had revenue of $65.40 million during the quarter, compared to analysts’ expectations of $83.30 million. Atlantic Power had a negative net margin of 9.11% and a positive return on equity of 184.49%.

Shares of AT stock traded down $0.02 during trading hours on Friday, hitting $2.14. 1,190,705 shares of the company were exchanged, compared to its average volume of 265,301. Atlantic Power has a one year low of $1.80 and a one year high of $2.60. The stock has a market capitalization of $237.59 million, a price-to-earnings ratio of -7.38 and a beta of 1.32.

An institutional investor recently raised its position in Atlantic Power stock. Bank of New York Mellon Corp boosted its holdings in Atlantic Power Corp (NYSE:AT) (TSE:ATP) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 922,743 shares of the utilities provider’s stock after acquiring an additional 34,173 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Atlantic Power worth $2,030,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 54.08% of the company’s stock.

Separately, Zacks Investment Research cut shares of Atlantic Power from a “buy” rating to a “hold” rating in a research report on Monday, November 5th.

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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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Earnings History for Atlantic Power (NYSE:AT)

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