Trade Report: Today, RMB Capital Management LLC Raises Stake in Atlantic Power Corp. (AT)

Today, RMB Capital Management LLC Raises Stake in Atlantic Power Corp. (AT)

RMB Capital Management LLC raised its stake in Atlantic Power Corp. (NYSE:AT) (TSE:ATP) by 10.0% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 550,000 shares of the company’s stock after buying an additional 50,000 shares during the period. RMB Capital Management LLC’s holdings in Atlantic Power Corp. were worth $1,358,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Parametric Portfolio Associates LLC boosted its stake in shares of Atlantic Power Corp. by 141.2% in the second quarter. Parametric Portfolio Associates LLC now owns 130,010 shares of the company’s stock valued at $322,000 after buying an additional 76,111 shares during the period. State Street Corp boosted its stake in shares of Atlantic Power Corp. by 7.4% in the second quarter. State Street Corp now owns 2,035,281 shares of the company’s stock valued at $5,047,000 after buying an additional 140,558 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Atlantic Power Corp. by 5.0% in the second quarter. Teachers Advisors Inc. now owns 195,147 shares of the company’s stock valued at $484,000 after buying an additional 9,264 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Atlantic Power Corp. by 11.8% in the second quarter. O Shaughnessy Asset Management LLC now owns 87,218 shares of the company’s stock valued at $216,000 after buying an additional 9,200 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Atlantic Power Corp. by 349.4% in the second quarter. Alliancebernstein L.P. now owns 426,280 shares of the company’s stock valued at $1,057,000 after buying an additional 331,420 shares during the period. Institutional investors and hedge funds own 45.09% of the company’s stock.

Atlantic Power Corp. (NYSE:AT) traded down 1.85% during trading on Monday, reaching $2.65. 307,465 shares of the company’s stock traded hands. The stock’s market cap is $306.43 million. Atlantic Power Corp. has a 52-week low of $1.57 and a 52-week high of $2.75. The company’s 50 day moving average is $2.43 and its 200-day moving average is $2.45.

Atlantic Power Corp. (NYSE:AT) last posted its quarterly earnings results on Monday, November 7th. The company reported ($0.69) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.61. The company had revenue of $101.20 million for the quarter, compared to the consensus estimate of $107.50 million. Atlantic Power Corp. had a negative net margin of 49.03% and a negative return on equity of 16.44%. During the same quarter in the previous year, the company posted ($0.05) EPS. On average, analysts anticipate that Atlantic Power Corp. will post ($0.59) earnings per share for the current fiscal year.

Several brokerages have weighed in on AT. TD Securities reiterated a “hold” rating and issued a $2.75 price objective on shares of Atlantic Power Corp. in a research note on Saturday, August 13th. National Bank Financial raised shares of Atlantic Power Corp. from an “underperform market weight” rating to a “sector perform market weight” rating in a report on Tuesday, November 8th. Finally, RBC Capital Markets reissued a “sector perform” rating on shares of Atlantic Power Corp. in a report on Tuesday, November 8th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Atlantic Power Corp. currently has a consensus rating of “Hold” and an average price target of $2.67.

In related news, Director Gilbert Samuel Palter purchased 50,000 shares of Atlantic Power Corp. stock in a transaction that occurred on Friday, November 18th. The stock was bought at an average price of $2.59 per share, for a total transaction of $129,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

About Atlantic Power Corp.

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 primarily under long-term power purchase agreements (PPAs). Atlantic Power operates through four segments: East U.S., West U.S., Canada and Un-Allocated Corporate.

Related posts

Leave a Comment