Insider Buying: Atlantic Power Corp (NYSE:AT) Director Acquires 25,000 Shares of Stock

Atlantic Power Corp (NYSE:AT) (TSE:ATP) Director Gilbert Samuel Palter bought 25,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was purchased at an average price of $2.25 per share, with a total value of $56,250.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Gilbert Samuel Palter also recently made the following trade(s):

  • On Tuesday, May 28th, Gilbert Samuel Palter purchased 3,500 shares of Atlantic Power stock. The shares were bought at an average price of $13.39 per share, with a total value of $46,865.00.

Shares of AT stock traded up $0.01 on Monday, reaching $2.43. The company had a trading volume of 243,472 shares, compared to its average volume of 469,642. Atlantic Power Corp has a 12 month low of $2.05 and a 12 month high of $3.02. The company has a current ratio of 1.01, a quick ratio of 0.91 and a debt-to-equity ratio of 130.98. The stock’s 50-day simple moving average is $2.39. The firm has a market capitalization of $266.00 million, a PE ratio of 15.19 and a beta of 0.95.

Atlantic Power (NYSE:AT) (TSE:ATP) last posted its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. Atlantic Power had a negative return on equity of 189.57% and a net margin of 9.23%. The business had revenue of $73.00 million for the quarter. Analysts anticipate that Atlantic Power Corp will post 0.24 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. QCM Cayman Ltd. acquired a new stake in shares of Atlantic Power during the first quarter valued at about $198,000. LPL Financial LLC raised its position in shares of Atlantic Power by 64.1% during the fourth 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 raised its position in shares of Atlantic Power by 94.7% during the first 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 bought a new position in shares of Atlantic Power during the first quarter worth about $53,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Atlantic Power by 116.6% during the first quarter. BNP Paribas Arbitrage SA now owns 23,444 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 12,619 shares during the last quarter. 60.39% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on the stock. TD Securities raised their price target on shares of Atlantic Power from $2.75 to $3.00 and gave the stock a “hold” rating in a report on Monday, March 4th. National Bank Financial cut shares of Atlantic Power from a “sector perform” rating to an “underperform” rating in a report on Tuesday, March 5th. Zacks Investment Research lowered shares of Atlantic Power from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Finally, ValuEngine lowered shares of Atlantic Power from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Three investment analysts have rated the stock with a hold rating and one has given a strong buy rating to the stock. Atlantic Power has a consensus rating of “Buy” and an average target price of $2.88.

About Atlantic Power

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.

Further Reading: Understanding Relative Strength Index

Insider Buying and Selling by Quarter for Atlantic Power (NYSE:AT)

Receive News & Ratings for Atlantic Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atlantic Power and related companies with MarketBeat.com's FREE daily email newsletter.