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. “
Several other equities analysts have also recently weighed in on AT. National Bank Financial raised shares of Atlantic Power from an underperform rating to a sector perform rating in a research report on Friday, May 3rd. ValuEngine cut shares of Atlantic Power from a hold rating to a sell rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $2.88.
Atlantic Power (NYSE:AT) (TSE:ATP) last released its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. The company had revenue of $73.00 million for the quarter. Atlantic Power had a net margin of 9.23% and a negative return on equity of 189.57%. On average, sell-side analysts predict that Atlantic Power will post 0.24 EPS for the current fiscal year.
In other news, Director Kevin Howell acquired 50,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was purchased at an average price of $2.29 per share, for a total transaction of $114,500.00. Following the purchase, the director now owns 160,300 shares in the company, valued at approximately $367,087. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gilbert Samuel Palter acquired 3,500 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was purchased at an average price of $13.39 per share, with a total value of $46,865.00. Following the purchase, the director now owns 18,500 shares in the company, valued at approximately $247,715. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 98,500 shares of company stock worth $265,015. 3.40% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of AT. LPL Financial LLC increased its stake in shares of Atlantic Power by 64.1% during the 4th quarter. LPL Financial LLC now owns 16,890 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 6,596 shares during the last quarter. Wiley BROS. Aintree Capital LLC increased its stake in shares of Atlantic Power by 94.7% during the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 19,533 shares of the utilities provider’s stock worth $49,000 after purchasing an additional 9,500 shares during the last quarter. Cetera Advisor Networks LLC purchased a new stake in shares of Atlantic Power during the 1st quarter worth approximately $53,000. BNP Paribas Arbitrage SA increased its stake in shares of Atlantic Power by 116.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 23,444 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 12,619 shares during the last quarter. Finally, First Quadrant L P CA purchased a new stake in shares of Atlantic Power during the 1st quarter worth approximately $61,000. Hedge funds and other institutional investors own 60.50% of the company’s stock.
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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