Several other research firms have also weighed in on AT. Zacks Investment Research upgraded Atlantic Power from a hold rating to a strong-buy rating and set a $2.75 target price for the company in a report on Tuesday, May 21st. National Bank Financial upgraded Atlantic Power from an underperform rating to a sector perform rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $2.88.
Shares of Atlantic Power stock remained flat at $$2.38 during trading on Thursday. The stock had a trading volume of 123,055 shares, compared to its average volume of 274,700. The stock has a market capitalization of $261.42 million, a P/E ratio of 14.88 and a beta of 0.93. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 130.98. Atlantic Power has a fifty-two week low of $2.05 and a fifty-two week high of $3.02. The company’s fifty day simple moving average is $2.43.
In other Atlantic Power news, Director Gilbert Samuel Palter purchased 25,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average cost of $2.25 per share, with a total value of $56,250.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kevin Howell purchased 50,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was acquired at an average cost of $2.29 per share, for a total transaction of $114,500.00. Following the completion of the transaction, the director now owns 160,300 shares in the company, valued at $367,087. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 98,500 shares of company stock valued at $265,015. Corporate insiders own 3.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC increased its position in shares of Atlantic Power by 64.1% during the fourth 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. Highstreet Asset Management Inc. increased its position in shares of Atlantic Power by 26.8% during the first quarter. Highstreet Asset Management Inc. now owns 35,459 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 7,486 shares during the period. Wiley BROS. Aintree Capital LLC increased its position in shares of Atlantic Power by 94.7% during the first 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. BNP Paribas Arbitrage SA increased its position in shares of Atlantic Power by 116.6% during the first 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. Finally, ClariVest Asset Management LLC increased its position in shares of Atlantic Power by 6.4% during the first quarter. ClariVest Asset Management LLC now owns 232,700 shares of the utilities provider’s stock valued at $587,000 after purchasing an additional 13,900 shares during the period. 60.50% 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.
Further Reading: Preferred Stock
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