Brokerages predict that Atlantic Power Corp (NYSE:AT) (TSE:ATP) will report earnings per share (EPS) of $0.07 for the current quarter, according to Zacks. Zero analysts have issued estimates for Atlantic Power’s earnings. Atlantic Power posted earnings per share of $0.01 in the same quarter last year, which suggests a positive year-over-year growth rate of 600%. The company is scheduled to announce its next quarterly earnings report after the market closes on Thursday, August 6th.
According to Zacks, analysts expect that Atlantic Power will report full-year earnings of $0.45 per share for the current fiscal year. For the next year, analysts expect that the company will post earnings of $0.34 per share. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Atlantic Power.
Atlantic Power (NYSE:AT) (TSE:ATP) last released its quarterly earnings results on Thursday, May 7th. The utilities provider reported $0.08 EPS for the quarter. Atlantic Power had a negative return on equity of 120.15% and a negative net margin of 6.61%. The business had revenue of $72.80 million during the quarter.
AT has been the topic of several analyst reports. Zacks Investment Research cut Atlantic Power from a “buy” rating to a “hold” rating in a research note on Wednesday, July 8th. ValuEngine upgraded Atlantic Power from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th. National Bank Financial upgraded Atlantic Power from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $2.40 to $2.50 in a research note on Monday, May 11th. Finally, TD Securities reduced their price objective on Atlantic Power from $2.75 to $2.50 and set a “hold” rating on the stock in a research note on Monday, May 11th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $2.33.
Shares of NYSE AT opened at $1.96 on Friday. The stock has a market cap of $180.23 million, a P/E ratio of -7.54 and a beta of 0.55. Atlantic Power has a 12-month low of $1.70 and a 12-month high of $2.56. The business’s fifty day simple moving average is $1.98 and its 200-day simple moving average is $2.11.
In other Atlantic Power news, EVP Joseph Cofelice purchased 17,657 shares of the business’s stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $1.84 per share, for a total transaction of $32,488.88. Following the completion of the purchase, the executive vice president now directly owns 884,437 shares in the company, valued at $1,627,364.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO James J. Moore, Jr. purchased 25,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $1.86 per share, for a total transaction of $46,500.00. Following the completion of the purchase, the chief executive officer now owns 1,101,726 shares of the company’s stock, valued at $2,049,210.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 48,057 shares of company stock worth $89,047. 3.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its position in shares of Atlantic Power by 5.5% in the 4th quarter. Renaissance Technologies LLC now owns 563,835 shares of the utilities provider’s stock valued at $1,313,000 after acquiring an additional 29,600 shares in the last quarter. UBS Group AG raised its holdings in shares of Atlantic Power by 60.0% during the 4th quarter. UBS Group AG now owns 134,356 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 50,389 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Atlantic Power by 31.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 530,276 shares of the utilities provider’s stock valued at $1,235,000 after purchasing an additional 125,480 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Atlantic Power by 7.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,088,292 shares of the utilities provider’s stock valued at $2,536,000 after purchasing an additional 71,182 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Atlantic Power by 23.2% during the 4th quarter. Bank of America Corp DE now owns 279,477 shares of the utilities provider’s stock valued at $652,000 after purchasing an additional 52,639 shares in the last quarter. Hedge funds and other institutional investors own 72.35% of the company’s stock.
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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