National Bank Financial Comments on Atlantic Power Corp’s FY2019 Earnings (AT)

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Atlantic Power Corp (NYSE:AT) (TSE:ATP) – National Bank Financial cut their FY2019 earnings per share estimates for Atlantic Power in a report issued on Monday, March 4th. National Bank Financial analyst R. Merer now expects that the utilities provider will post earnings of $0.11 per share for the year, down from their prior forecast of $0.51. National Bank Financial currently has a “Underperform” rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Atlantic Power from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a research note on Wednesday, February 20th. ValuEngine upgraded shares of Atlantic Power from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. TheStreet upgraded shares of Atlantic Power from a “d+” rating to a “c-” rating in a research note on Monday, February 4th. Finally, TD Securities lifted their target price on shares of Atlantic Power from $2.75 to $3.00 and gave the company a “hold” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Atlantic Power presently has a consensus rating of “Hold” and a consensus target price of $2.88.

Shares of Atlantic Power stock opened at $2.70 on Thursday. Atlantic Power has a 1-year low of $2.03 and a 1-year high of $3.02. The firm has a market cap of $301.19 million, a PE ratio of 16.88 and a beta of 1.16.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AT. Russell Investments Group Ltd. purchased a new position in shares of Atlantic Power during the 3rd quarter valued at $147,000. JPMorgan Chase & Co. increased its holdings in Atlantic Power by 0.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,109,497 shares of the utilities provider’s stock valued at $13,441,000 after acquiring an additional 50,580 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Atlantic Power by 13.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,042,804 shares of the utilities provider’s stock valued at $2,294,000 after acquiring an additional 120,061 shares during the last quarter. BlackRock Inc. increased its holdings in Atlantic Power by 1.2% in the 3rd quarter. BlackRock Inc. now owns 5,907,600 shares of the utilities provider’s stock valued at $12,997,000 after acquiring an additional 67,912 shares during the last quarter. Finally, Walthausen & Co. LLC bought a new stake in Atlantic Power in the 3rd quarter valued at $1,377,000. Institutional investors own 54.17% of the company’s stock.

About Atlantic Power

Atlantic Power Corporation owns and operates a fleet of power generation assets in the United States and Canada. As of December 31, 2017, its power generation projects had an aggregate gross electric generation capacity of approximately 1,633 megawatts consisting of interests in 18 operational power generation projects across 9 states in the United States and 2 provinces in Canada.

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