Atlantic Power (AT) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Atlantic Power (NYSE:AT) (TSE:ATP) from a sell rating to a hold rating in a research note released on Monday, Zacks.com reports.

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. “

A number of other equities analysts have also recently issued reports on the stock. National Bank Financial upgraded shares of Atlantic Power from an underperform rating to a sector perform rating in a research note on Friday, May 3rd. ValuEngine lowered Atlantic Power from a buy rating to a hold rating in a research report on Monday, April 1st. TD Securities boosted their target price on Atlantic Power from $2.75 to $3.00 and gave the stock a hold rating in a research report on Monday, March 4th. Finally, TheStreet raised Atlantic Power from a d+ rating to a c- rating in a research report on Monday, February 4th. Four investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and a consensus price target of $2.88.

Shares of Atlantic Power stock opened at $2.32 on Monday. The stock has a market capitalization of $254.49 million, a P/E ratio of 14.50 and a beta of 1.13. Atlantic Power has a 1 year low of $2.03 and a 1 year high of $3.02. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 130.98.

Atlantic Power (NYSE:AT) (TSE:ATP) last announced its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.11. The company had revenue of $70.70 million for the quarter. Atlantic Power had a net margin of 9.23% and a negative return on equity of 189.57%. As a group, analysts expect that Atlantic Power will post 0.11 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. LPL Financial LLC raised its position in Atlantic Power by 64.1% in the 4th quarter. LPL Financial LLC now owns 16,890 shares of the utilities provider’s stock worth $37,000 after buying an additional 6,596 shares during the last quarter. Wiley BROS. Aintree Capital LLC raised its position in Atlantic Power by 94.7% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 19,533 shares of the utilities provider’s stock worth $49,000 after buying an additional 9,500 shares during the last quarter. Meeder Asset Management Inc. raised its position in Atlantic Power by 35.6% in the 4th quarter. Meeder Asset Management Inc. now owns 23,198 shares of the utilities provider’s stock worth $50,000 after buying an additional 6,095 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in Atlantic Power in the 1st quarter worth about $53,000. Finally, BNP Paribas Arbitrage SA raised its position in Atlantic Power by 116.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 23,444 shares of the utilities provider’s stock worth $59,000 after buying an additional 12,619 shares during the last quarter. 57.18% of the stock is owned by institutional investors and hedge funds.

Atlantic Power Company Profile

Atlantic Power Corp. is a power producer company, which engages in owning power generation assets. The firm operates through its segments: East U.S., West U.S., Canada and Un-Allocated Corporate. It projects sell electricity and steam to investment-grade utilities and creditworthy large customers under long term Power Purchase Agreements.

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