Atlantic Power Corp (NYSE:AT) Expected to Post Earnings of $0.04 Per Share

Wall Street brokerages expect Atlantic Power Corp (NYSE:AT) (TSE:ATP) to report $0.04 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have issued estimates for Atlantic Power’s earnings. Atlantic Power reported earnings of ($0.06) per share during the same quarter last year, which indicates a positive year over year growth rate of 166.7%. The firm is expected to report its next 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 fiscal year. For the next year, analysts expect that the firm will post earnings of $0.27 per share. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Atlantic Power.

Atlantic Power (NYSE:AT) (TSE:ATP) last announced its earnings results on Thursday, May 2nd. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. Atlantic Power had a net margin of 9.23% and a negative return on equity of 189.57%. The firm had revenue of $73.00 million for the quarter.

Several research firms have recently issued reports on AT. TD Securities raised their price target 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. National Bank Financial lowered Atlantic Power from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, March 5th. Zacks Investment Research lowered Atlantic Power from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Finally, ValuEngine downgraded Atlantic Power from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Three analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $2.88.

In other news, Director Gilbert Samuel Palter purchased 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average price of $13.39 per share, for a total transaction of $46,865.00. Following the purchase, the director now directly owns 18,500 shares of the company’s stock, valued at approximately $247,715. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph Cofelice bought 20,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was bought at an average price of $2.37 per share, for a total transaction of $47,400.00. Following the completion of the purchase, the executive vice president now directly owns 744,397 shares in the company, valued at approximately $1,764,220.89. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 98,500 shares of company stock valued at $265,015. 3.40% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of AT. QCM Cayman Ltd. bought a new position in shares of Atlantic Power during the first quarter valued at $198,000. LPL Financial LLC increased its stake 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 worth $37,000 after acquiring an additional 6,596 shares during the last quarter. Wiley BROS. Aintree Capital LLC increased its stake in shares of Atlantic Power by 94.7% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 19,533 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 9,500 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Atlantic Power during the 1st quarter worth $53,000. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Atlantic Power by 116.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 23,444 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 12,619 shares during the period. Hedge funds and other institutional investors own 60.39% of the company’s stock.

Shares of Atlantic Power stock traded down $0.02 on Tuesday, reaching $2.33. 20,960 shares of the stock were exchanged, compared to its average volume of 583,865. The stock has a market cap of $264.36 million, a price-to-earnings ratio of 14.50 and a beta of 1.00. The company has a debt-to-equity ratio of 130.98, a quick ratio of 0.91 and a current ratio of 1.01. The firm’s 50 day simple moving average is $2.39. Atlantic Power has a one year low of $2.05 and a one year high of $3.02.

Atlantic Power Company Profile

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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