Atlantic Power (AT) PT Set at $2.50 by National Bank Financial

National Bank Financial set a $2.50 target price on Atlantic Power (NYSE:AT) (TSE:ATP) in a report published on Tuesday. The firm currently has a sector perform rating on the utilities provider’s stock.

AT has been the subject of several other research reports. Zacks Investment Research upgraded shares of Atlantic Power from a hold rating to a buy rating and set a $2.75 price target for the company in a research report on Tuesday, October 10th. TD Securities reiterated a hold rating and issued a $2.50 price target on shares of Atlantic Power in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $2.58.

Atlantic Power (NYSE AT) traded down $0.05 during mid-day trading on Tuesday, reaching $2.05. 475,872 shares of the company traded hands, compared to its average volume of 769,231. Atlantic Power has a 1 year low of $1.97 and a 1 year high of $2.70. The stock has a market cap of $241.95 and a P/E ratio of -3.75. The company has a debt-to-equity ratio of 30.07, a quick ratio of 0.97 and a current ratio of 1.07.

Atlantic Power (NYSE:AT) (TSE:ATP) last released its quarterly earnings results on Thursday, November 9th. The utilities provider reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Atlantic Power had a negative net margin of 14.09% and a positive return on equity of 34.66%. The firm had revenue of $108.60 million during the quarter, compared to the consensus estimate of $124.10 million. research analysts anticipate that Atlantic Power will post -0.22 EPS for the current year.

In other news, Director Gilbert Samuel Palter acquired 35,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was bought at an average price of $2.35 per share, for a total transaction of $82,250.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AT. Schwab Charles Investment Management Inc. increased its holdings in shares of Atlantic Power by 5.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 862,341 shares of the utilities provider’s stock valued at $2,070,000 after purchasing an additional 43,982 shares in the last quarter. Prudential Financial Inc. grew its stake in Atlantic Power by 87.3% in the 2nd quarter. Prudential Financial Inc. now owns 55,782 shares of the utilities provider’s stock valued at $133,000 after acquiring an additional 26,000 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Atlantic Power by 16.4% during the 2nd quarter. Teachers Advisors LLC now owns 227,203 shares of the utilities provider’s stock worth $545,000 after purchasing an additional 32,056 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Atlantic Power by 22.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 392,101 shares of the utilities provider’s stock worth $941,000 after purchasing an additional 73,100 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Atlantic Power by 10.6% during the 2nd quarter. Nationwide Fund Advisors now owns 71,880 shares of the utilities provider’s stock worth $173,000 after purchasing an additional 6,867 shares during the last quarter. Institutional investors and hedge funds own 47.88% of the company’s stock.

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About Atlantic Power

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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