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 research analysts also recently issued reports on AT. National Bank Financial raised Atlantic Power from an underperform rating to a sector perform rating in a research note on Friday. TD Securities boosted their price objective on Atlantic Power from $2.75 to $3.00 and gave the company a hold rating in a research note on Monday, March 4th. TheStreet raised Atlantic Power from a d+ rating to a c- rating in a research note on Monday, February 4th. Finally, ValuEngine downgraded Atlantic Power from a buy rating to a hold rating in a research note on Monday, April 1st. Four research analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and an average target price of $2.88.
Shares of AT opened at $2.42 on Monday. The stock has a market cap of $272.03 million, a price-to-earnings ratio of 15.13 and a beta of 1.13. Atlantic Power has a 12 month low of $2.03 and a 12 month high of $3.02. The company has a debt-to-equity ratio of 130.98, a quick ratio of 0.91 and a current ratio of 1.01.
Atlantic Power (NYSE:AT) (TSE:ATP) last announced its earnings results on Thursday, February 28th. The utilities provider reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.11. The firm had revenue of $70.70 million for the quarter. Atlantic Power had a negative return on equity of 189.57% and a net margin of 9.23%. On average, equities research analysts forecast that Atlantic Power will post 0.11 EPS for the current year.
Large investors have recently made changes to their positions in the company. LPL Financial LLC lifted its stake in shares of Atlantic Power by 64.1% in the 4th quarter. LPL Financial LLC now owns 16,890 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 6,596 shares during the period. Wiley BROS. Aintree Capital LLC lifted its stake in shares of 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 valued at $49,000 after purchasing an additional 9,500 shares during the period. Cetera Advisor Networks LLC acquired a new position in shares of Atlantic Power in the 1st quarter valued at about $53,000. Meeder Asset Management Inc. lifted its stake in shares of Atlantic Power by 35.6% in the 4th quarter. Meeder Asset Management Inc. now owns 23,198 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 6,095 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Atlantic Power by 116.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 23,444 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 12,619 shares during the period. 57.18% of the stock is currently owned by institutional investors.
About Atlantic Power
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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