Atlantic Power Corp Receives a Hold from TD Securities

By Ryan Adsit

In a report released today, Sean Steuart from TD Securities reiterated a Hold rating on Atlantic Power Corp (NYSE: AT), with a price target of $2.50. The company’s shares opened today at $2.50.

According to TipRanks.com, Steuart is a 5-star analyst with an average return of 16.1% and a 84.1% success rate. Steuart covers the Basic Materials sector, focusing on stocks such as Louisiana-Pacific, Suncor Energy Inc, and Norbord Inc.

Atlantic Power Corp has an analyst consensus of Hold, with a price target consensus of $2.50.

Based on Atlantic Power Corp’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $124 million and GAAP net loss of $19.8 million. In comparison, last year the company earned revenue of $101 million and had a GAAP net loss of $80.3 million.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AT in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Atlantic Power Corp. owns and operates a diverse fleet of power generation assets across nine states in the United States and two provinces in Canada. Its power generation projects engages in the sale of electricity to utilities and other large commercial customers. The company was founded on June 18, 2004 and is headquartered in Dedham, MA.