Atlantic Power Corp (NYSE:AT) (TSE:ATP) – National Bank Financial increased their Q4 2017 EPS estimates for shares of Atlantic Power Corp in a report released on Sunday. National Bank Financial analyst R. Merer now forecasts that the utilities provider will post earnings per share of $0.05 for the quarter, up from their previous forecast of $0.02. National Bank Financial has a “Sector Perform” rating and a $2.50 price objective on the stock.
Separately, TD Securities restated a “hold” rating on shares of Atlantic Power Corp in a research note on Tuesday.
Shares of Atlantic Power Corp (NYSE:AT) traded up 1.042% on Tuesday, hitting $2.425. The stock had a trading volume of 61,886 shares. The stock has a 50 day moving average of $2.57 and a 200-day moving average of $2.49. Atlantic Power Corp has a 12 month low of $2.13 and a 12 month high of $2.75. The stock’s market cap is $279.43 million.
Atlantic Power Corp (NYSE:AT) last issued its quarterly earnings results on Thursday, March 2nd. The utilities provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.06. Atlantic Power Corp had a negative return on equity of 16.44% and a negative net margin of 49.03%. The firm had revenue of $93.40 million for the quarter.
Institutional investors have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in Atlantic Power Corp by 11.9% in the third quarter. Wells Fargo & Company MN now owns 97,586 shares of the utilities provider’s stock valued at $241,000 after buying an additional 10,393 shares during the period. Mangrove Partners increased its position in Atlantic Power Corp by 24.0% in the third quarter. Mangrove Partners now owns 7,863,599 shares of the utilities provider’s stock valued at $19,423,000 after buying an additional 1,522,986 shares during the period. Renaissance Technologies LLC increased its position in Atlantic Power Corp by 188.1% in the fourth quarter. Renaissance Technologies LLC now owns 136,930 shares of the utilities provider’s stock valued at $343,000 after buying an additional 89,395 shares during the period. 12 West Capital Management LP bought a new position in Atlantic Power Corp during the fourth quarter valued at $17,970,000. Finally, Numeric Investors LLC increased its position in Atlantic Power Corp by 7.2% in the fourth quarter. Numeric Investors LLC now owns 108,300 shares of the utilities provider’s stock valued at $271,000 after buying an additional 7,300 shares during the period. Hedge funds and other institutional investors own 44.27% of the company’s stock.
In other news, EVP Joseph Cofelice purchased 30,000 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were purchased at an average cost of $2.44 per share, for a total transaction of $73,200.00. Following the purchase, the executive vice president now directly owns 517,549 shares in the company, valued at approximately $1,262,819.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.
About Atlantic Power Corp
Atlantic Power Corporation (Atlantic Power) owns and operates a fleet of power generation assets in the United States and Canada. The Company’s power generation projects sell electricity to utilities and other commercial customers. Atlantic Power’s segments include East U.S., West U.S. and Canada. The Company’s East U.S.
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