Atlantic Power Corporation (AT) Stock Rating Lowered by Zacks Investment Research

Atlantic Power Corporation (NYSE:AT) (TSE:ATP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

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. “

AT has been the topic of a number of other research reports. BidaskClub lowered Atlantic Power Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. TD Securities reiterated a “hold” rating and issued a $2.50 target price on shares of Atlantic Power Corporation in a research note on Tuesday, October 17th. Finally, National Bank Financial reduced their target price on Atlantic Power Corporation from $2.60 to $2.45 and set a “sector perform” rating on the stock in a research note on Wednesday, August 30th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. Atlantic Power Corporation currently has an average rating of “Hold” and a consensus target price of $2.57.

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In other news, Director Gilbert Samuel Palter purchased 30,300 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were purchased at an average price of $2.38 per share, for a total transaction of $72,114.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have bought 65,600 shares of company stock worth $163,730. Insiders own 1.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in AT. JPMorgan Chase & Co. increased its stake in shares of Atlantic Power Corporation by 12.0% during the second quarter. JPMorgan Chase & Co. now owns 5,731,760 shares of the utilities provider’s stock valued at $13,757,000 after buying an additional 614,900 shares during the period. OxFORD Asset Management LLP increased its stake in shares of Atlantic Power Corporation by 1,258.1% during the second quarter. OxFORD Asset Management LLP now owns 211,838 shares of the utilities provider’s stock valued at $508,000 after buying an additional 196,240 shares during the period. Vanguard Group Inc. increased its stake in shares of Atlantic Power Corporation by 4.7% during the second quarter. Vanguard Group Inc. now owns 3,163,689 shares of the utilities provider’s stock valued at $7,593,000 after buying an additional 142,274 shares during the period. First Quadrant L P CA purchased a new position in shares of Atlantic Power Corporation during the third quarter valued at $346,000. Finally, Virtu KCG Holdings LLC increased its stake in shares of Atlantic Power Corporation by 192.6% during the second quarter. Virtu KCG Holdings LLC now owns 163,828 shares of the utilities provider’s stock valued at $393,000 after buying an additional 107,829 shares during the period. Hedge funds and other institutional investors own 45.92% of the company’s stock.

About Atlantic Power Corporation

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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