Atlantic Power (AT) Downgraded by Zacks Investment Research
Atlantic Power (NYSE:AT) (TSE:ATP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
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. “
Separately, TD Securities restated a “hold” rating and issued a $2.50 target price on shares of Atlantic Power in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $2.57.
In other news, Director Gilbert Samuel Palter bought 35,000 shares of the stock in a transaction dated Thursday, November 16th. The stock was purchased at an average price of $2.35 per share, for a total transaction of $82,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Atlantic Power by 18.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,813,864 shares of the utilities provider’s stock valued at $17,034,000 after buying an additional 1,082,104 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Atlantic Power by 5.4% during 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 buying an additional 43,982 shares in the last quarter. Mangrove Partners lifted its holdings in Atlantic Power by 30.5% during the 3rd quarter. Mangrove Partners now owns 11,324,092 shares of the utilities provider’s stock valued at $27,744,000 after buying an additional 2,643,352 shares in the last quarter. Western Standard LLC bought a new stake in Atlantic Power during the 3rd quarter valued at about $614,000. Finally, Northern Trust Corp lifted its holdings in Atlantic Power by 7.8% during the 2nd quarter. Northern Trust Corp now owns 1,083,205 shares of the utilities provider’s stock valued at $2,599,000 after buying an additional 78,677 shares in the last quarter. Hedge funds and other institutional investors own 47.68% of the company’s stock.
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Atlantic Power Company Profile
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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