Alliancebernstein L.P. Grows Stake in Atlantic Power Corp (NYSE:AT)

Alliancebernstein L.P. grew its position in Atlantic Power Corp (NYSE:AT) (TSE:ATP) by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 613,397 shares of the utilities provider’s stock after purchasing an additional 28,600 shares during the quarter. Alliancebernstein L.P.’s holdings in Atlantic Power were worth $1,313,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AT. State Street Corp grew its holdings in Atlantic Power by 5.5% in the fourth quarter. State Street Corp now owns 2,231,925 shares of the utilities provider’s stock worth $5,200,000 after purchasing an additional 116,568 shares during the last quarter. Barclays PLC lifted its stake in shares of Atlantic Power by 28.2% during the fourth quarter. Barclays PLC now owns 245,818 shares of the utilities provider’s stock worth $572,000 after buying an additional 54,083 shares during the period. Citigroup Inc. lifted its stake in shares of Atlantic Power by 90.8% during the fourth quarter. Citigroup Inc. now owns 28,598 shares of the utilities provider’s stock worth $67,000 after buying an additional 13,609 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Atlantic Power by 3.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,356,651 shares of the utilities provider’s stock worth $5,488,000 after buying an additional 78,100 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Atlantic Power by 5.5% during the fourth quarter. Renaissance Technologies LLC now owns 563,835 shares of the utilities provider’s stock worth $1,313,000 after buying an additional 29,600 shares during the period. 62.79% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently commented on AT. TD Securities lowered their price objective on shares of Atlantic Power from $2.75 to $2.50 and set a “hold” rating for the company in a research note on Monday, May 11th. Zacks Investment Research downgraded shares of Atlantic Power from a “buy” rating to a “hold” rating in a research note on Tuesday, May 12th. TheStreet downgraded shares of Atlantic Power from a “c” rating to a “d” rating in a research note on Wednesday, March 25th. National Bank Financial upgraded shares of Atlantic Power from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $2.40 to $2.50 in a research note on Monday, May 11th. Finally, ValuEngine upgraded shares of Atlantic Power from a “sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.33.

In other news, CEO James J. Moore, Jr. acquired 25,000 shares of the firm’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 transaction, the chief executive officer now owns 1,101,726 shares in the company, valued at approximately $2,049,210.36. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph Cofelice acquired 17,657 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $1.84 per share, with a total value of $32,488.88. Following the transaction, the executive vice president now owns 884,437 shares of the company’s stock, valued at approximately $1,627,364.08. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 48,057 shares of company stock valued at $89,047. Insiders own 3.40% of the company’s stock.

NYSE AT opened at $2.00 on Wednesday. The company has a market capitalization of $171.61 million, a PE ratio of -7.69 and a beta of 0.54. The company has a fifty day moving average of $1.99 and a 200 day moving average of $2.17. Atlantic Power Corp has a 1 year low of $1.70 and a 1 year high of $2.65. The company has a debt-to-equity ratio of 28.05, a current ratio of 0.94 and a quick ratio of 0.81.

Atlantic Power (NYSE:AT) (TSE:ATP) last posted its earnings results on Thursday, May 7th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter. The company had revenue of $72.80 million during the quarter. Atlantic Power had a negative net margin of 6.61% and a negative return on equity of 120.15%. Research analysts expect that Atlantic Power Corp will post 0.3 earnings per share for the current year.

Atlantic Power 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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Institutional Ownership by Quarter for Atlantic Power (NYSE:AT)

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