Atlantic Power (AT) Raised to “Hold” at 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 report released on Friday morning.

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. “

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AT has been the subject of a number of other research reports. National Bank Financial set a $2.50 target price on shares of Atlantic Power and gave the stock a sector perform rating in a research report on Tuesday, January 30th. ValuEngine downgraded shares of Atlantic Power from a hold rating to a sell rating in a research report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has a consensus rating of Hold and an average price target of $2.58.

Atlantic Power stock opened at $2.25 on Friday. Atlantic Power has a 52 week low of $1.80 and a 52 week high of $2.70. 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 company has a market capitalization of $261.02, a P/E ratio of -7.76 and a beta of 1.69.

Atlantic Power (NYSE:AT) (TSE:ATP) last posted its quarterly earnings data on Thursday, March 1st. The utilities provider reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.07). Atlantic Power had a positive return on equity of 36.16% and a negative net margin of 21.88%. The firm had revenue of $100.00 million during the quarter, compared to analyst estimates of $110.20 million. equities analysts forecast that Atlantic Power will post -0.39 EPS for the current year.

In other Atlantic Power news, EVP Joseph Cofelice purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were acquired at an average price of $2.10 per share, for a total transaction of $42,000.00. Following the acquisition, the executive vice president now owns 634,762 shares of the company’s stock, valued at $1,333,000.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James J. Moore, Jr. purchased 15,394 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were acquired 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 in the company, valued at approximately $957,637. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 48,894 shares of company stock valued at $101,908. Insiders own 1.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC grew its stake in Atlantic Power by 141.2% in the 3rd quarter. Jane Street Group LLC now owns 41,795 shares of the utilities provider’s stock valued at $102,000 after buying an additional 24,467 shares during the last quarter. Macquarie Group Ltd. acquired a new position in Atlantic Power in the 3rd quarter valued at $180,000. Two Sigma Advisers LP grew its stake in Atlantic Power by 50.5% in the 4th quarter. Two Sigma Advisers LP now owns 80,801 shares of the utilities provider’s stock valued at $190,000 after buying an additional 27,100 shares during the last quarter. Citadel Advisors LLC grew its stake in Atlantic Power by 104.0% in the 4th quarter. Citadel Advisors LLC now owns 90,352 shares of the utilities provider’s stock valued at $212,000 after buying an additional 46,069 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Atlantic Power in the 4th quarter valued at $250,000. Institutional investors and hedge funds own 49.48% of the company’s stock.

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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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