Brokerages predict that Atlantic Power Corp (NYSE:AT) (TSE:ATP) will post $0.04 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for Atlantic Power’s earnings. Atlantic Power posted earnings of ($0.06) per share during the same quarter last year, which would indicate a positive year over year growth rate of 166.7%. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 1st.
On average, analysts expect that Atlantic Power will report full-year earnings of $0.24 per share for the current financial year. For the next year, analysts forecast that the company will post earnings of $0.27 per share. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Atlantic Power.
Atlantic Power (NYSE:AT) (TSE:ATP) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.05. The company had revenue of $73.00 million during the quarter. Atlantic Power had a net margin of 9.23% and a negative return on equity of 189.57%.
Several equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Atlantic Power from a “hold” rating to a “strong-buy” rating and set a $2.75 price objective on the stock in a research report on Tuesday, May 21st. National Bank Financial raised shares of Atlantic Power from an “underperform” rating to a “sector perform” rating in a report on Friday, May 3rd. ValuEngine downgraded shares of Atlantic Power from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, TD Securities increased their price objective on shares of Atlantic Power from $2.75 to $3.00 and gave the company a “hold” rating in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the stock. Atlantic Power currently has an average rating of “Buy” and an average price target of $2.88.
In related news, Director Kevin Howell bought 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 directly owns 160,300 shares in the company, valued at approximately $367,087. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gilbert Samuel Palter bought 25,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were bought at an average price of $2.25 per share, with a total value of $56,250.00. The disclosure for this purchase can be found here. Insiders have purchased 98,500 shares of company stock valued at $265,015 in the last 90 days. 3.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Atlantic Power by 13.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,042,804 shares of the utilities provider’s stock valued at $2,294,000 after buying an additional 120,061 shares during the period. Rhumbline Advisers raised its holdings in shares of Atlantic Power by 41.4% in the 4th quarter. Rhumbline Advisers now owns 154,190 shares of the utilities provider’s stock valued at $335,000 after purchasing an additional 45,146 shares during the period. LPL Financial LLC raised its holdings in shares of Atlantic Power by 64.1% in the 4th 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. Acadian Asset Management LLC raised its holdings in shares of Atlantic Power by 11.1% in the 4th quarter. Acadian Asset Management LLC now owns 169,800 shares of the utilities provider’s stock valued at $368,000 after purchasing an additional 16,900 shares during the period. Finally, Highstreet Asset Management Inc. acquired a new position in Atlantic Power in the 4th quarter valued at about $61,000. Institutional investors own 60.39% of the company’s stock.
Shares of Atlantic Power stock traded down $0.02 during midday trading on Tuesday, reaching $2.33. The company had a trading volume of 20,960 shares, compared to its average volume of 583,865. The company has a quick ratio of 0.91, a current ratio of 1.01 and a debt-to-equity ratio of 130.98. The firm has a market cap of $264.36 million, a P/E ratio of 14.50 and a beta of 1.00. The company’s fifty day moving average is $2.39. Atlantic Power has a 1-year low of $2.05 and a 1-year high of $3.02.
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.
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