Atlantic Power Corporation (AT) Expected to Post FY2017 Earnings of ($0.27) Per Share
Atlantic Power Corporation (NYSE:AT) (TSE:ATP) – Equities research analysts at National Bank Financial decreased their FY2017 earnings per share (EPS) estimates for Atlantic Power Corporation in a research report issued to clients and investors on Tuesday. National Bank Financial analyst R. Merer now forecasts that the utilities provider will earn ($0.27) per share for the year, down from their prior forecast of $0.25. National Bank Financial also issued estimates for Atlantic Power Corporation’s FY2018 earnings at ($0.25) EPS.
A number of other equities analysts have also recently commented on the company. TD Securities reaffirmed a “hold” rating on shares of Atlantic Power Corporation in a research note on Tuesday, May 9th. Zacks Investment Research cut Atlantic Power Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. ValuEngine cut Atlantic Power Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, BidaskClub cut Atlantic Power Corporation from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $2.67.
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Atlantic Power Corporation (NYSE AT) traded up 2.08% during trading on Friday, hitting $2.45. The company’s stock had a trading volume of 119,131 shares. The firm’s market cap is $282.44 million. Atlantic Power Corporation has a 12 month low of $2.13 and a 12 month high of $2.75. The firm has a 50 day moving average of $2.37 and a 200 day moving average of $2.44.
Several institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in Atlantic Power Corporation during the first quarter valued at about $128,000. Two Sigma Securities LLC acquired a new position in Atlantic Power Corporation during the first quarter valued at about $130,000. Prudential Financial Inc. boosted its position in Atlantic Power Corporation by 87.3% in the second quarter. Prudential Financial Inc. now owns 55,782 shares of the utilities provider’s stock valued at $133,000 after buying an additional 26,000 shares during the period. KCG Holdings Inc. boosted its position in Atlantic Power Corporation by 44.0% in the first quarter. KCG Holdings Inc. now owns 55,999 shares of the utilities provider’s stock valued at $148,000 after buying an additional 17,111 shares during the period. Finally, Nationwide Fund Advisors boosted its position in Atlantic Power Corporation by 10.6% in the second quarter. Nationwide Fund Advisors now owns 71,880 shares of the utilities provider’s stock valued at $173,000 after buying an additional 6,867 shares during the period. 46.37% of the stock is currently owned by hedge funds and other institutional investors.
In other Atlantic Power Corporation news, Director Gilbert Samuel Palter bought 49,900 shares of Atlantic Power Corporation stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average cost of $2.39 per share, with a total value of $119,261.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James J. Moore, Jr. bought 15,489 shares of Atlantic Power Corporation stock in a transaction dated Friday, May 19th. The shares were acquired at an average cost of $2.40 per share, for a total transaction of $37,173.60. Following the completion of the purchase, the chief executive officer now directly owns 365,742 shares of the company’s stock, valued at approximately $877,780.80. The disclosure for this purchase can be found here. Insiders have bought 133,117 shares of company stock worth $317,925 over the last three months. Insiders own 1.60% of the company’s stock.
Atlantic Power Corporation Company Profile
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.
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