Zacks Investment Research upgraded shares of Atlantic Power (NYSE:AT) (TSE:ATP) from a hold rating to a strong-buy rating in a research note released on Wednesday. Zacks Investment Research currently has $2.50 price target on the utilities provider’s stock.
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 stock traded down $0.02 during mid-day trading on Wednesday, reaching $2.14. The company had a trading volume of 1,190,705 shares, compared to its average volume of 265,301. The firm has a market capitalization of $237.59 million, a P/E ratio of -7.38 and a beta of 1.32. Atlantic Power has a fifty-two week low of $1.80 and a fifty-two week high of $2.60.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Atlantic Power by 1.2% in the 3rd quarter. BlackRock Inc. now owns 5,907,600 shares of the utilities provider’s stock valued at $12,997,000 after acquiring an additional 67,912 shares during the last quarter. Bank of New York Mellon Corp increased 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 acquiring an additional 120,061 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Atlantic Power by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,109,497 shares of the utilities provider’s stock valued at $13,441,000 after acquiring an additional 50,580 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Atlantic Power in the 3rd quarter valued at about $147,000. Finally, Jane Street Group LLC increased its holdings in shares of Atlantic Power by 287.9% in the 2nd quarter. Jane Street Group LLC now owns 47,476 shares of the utilities provider’s stock valued at $105,000 after acquiring an additional 35,237 shares during the last quarter. Institutional investors and hedge funds own 54.08% of the company’s stock.
Atlantic Power Company Profile
Atlantic Power Corporation owns and operates a fleet of power generation assets in the United States and Canada. As of December 31, 2017, its power generation projects had an aggregate gross electric generation capacity of approximately 1,633 megawatts consisting of interests in 18 operational power generation projects across 9 states in the United States and 2 provinces in Canada.
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