Atlantic Power Corporation (AT) Downgraded by Zacks Investment Research to Hold
Atlantic Power Corporation (NYSE:AT) (TSE:ATP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, July 7th.
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. “
Other research analysts have also recently issued research reports about the company. ValuEngine cut Atlantic Power Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. TD Securities reiterated a “hold” rating on shares of Atlantic Power Corporation in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Atlantic Power Corporation has a consensus rating of “Hold” and an average price target of $2.67.
Atlantic Power Corporation (NYSE:AT) remained flat at $2.35 on Friday. The company’s stock had a trading volume of 241,390 shares. The stock’s market cap is $270.79 million. The company’s 50 day moving average is $2.39 and its 200-day moving average is $2.44. Atlantic Power Corporation has a 52-week low of $2.12 and a 52-week high of $2.75.
In other Atlantic Power Corporation news, Director Gilbert Samuel Palter bought 49,900 shares of the stock in a transaction on Wednesday, May 31st. The shares were purchased at an average price of $2.39 per share, with a total value of $119,261.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO James J. Moore, Jr. acquired 35,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average cost of $2.38 per share, for a total transaction of $83,300.00. Following the acquisition, the chief executive officer now directly owns 385,742 shares in the company, valued at approximately $918,065.96. The disclosure for this purchase can be found here. Insiders acquired a total of 133,117 shares of company stock worth $317,925 in the last ninety days. Insiders own 1.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of AT. Norges Bank bought a new position in Atlantic Power Corporation during the fourth quarter valued at approximately $1,916,000. RMB Capital Management LLC increased its position in shares of Atlantic Power Corporation by 33.3% in the first quarter. RMB Capital Management LLC now owns 1,000,000 shares of the utilities provider’s stock valued at $2,650,000 after buying an additional 250,000 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Atlantic Power Corporation by 3.3% in the first quarter. Neuberger Berman Group LLC now owns 3,759,682 shares of the utilities provider’s stock valued at $9,963,000 after buying an additional 121,068 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Atlantic Power Corporation by 188.1% in the fourth quarter. Renaissance Technologies LLC now owns 136,930 shares of the utilities provider’s stock valued at $343,000 after buying an additional 89,395 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Atlantic Power Corporation by 77.5% in the first quarter. Wells Fargo & Company MN now owns 178,086 shares of the utilities provider’s stock valued at $472,000 after buying an additional 77,767 shares during the last quarter. Institutional investors and hedge funds own 46.37% of the company’s stock.
About Atlantic Power Corporation
Alltel Corporation provides telecommunication services such as wire line local, long-distance, network access and internet services, wireless communications and wide-area paging services. The Company also wholesales telecommunications equipment and publishes telephone directories.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Atlantic Power Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlantic Power Corporation and related stocks with our FREE daily email newsletter.