Atlantic Power Corporation [AT] Stock trading around $3.00 per share: What’s Next?

Atlantic Power Corporation [NYSE: AT] stock went on an upward path that rose over 2.04% on Wednesday, amounting to a one-week price increase of more than 6.01%. The company report on April 7, 2021 that Atlantic Power Announces Common and Preferred Shareholder Approval of I Squared Transaction.

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– Atlantic Power Corporation (NYSE: AT) (TSX: ATP) (“Atlantic Power” or the “Company”) announced that, at ‘s special meetings of common shareholders (“Common Shareholders”) of Atlantic Power and preferred shareholders (“Preferred Shareholders”) of Atlantic Power Preferred Equity Ltd. (“APPEL”), shareholders voted to approve the previously announced proposed transaction among Atlantic Power, APPEL, Atlantic Power Limited Partnership and certain affiliates (collectively the “Purchasers”) of infrastructure funds managed by I Squared Capital Advisors (US) LLC (the “Transaction”). Upon closing of the Transaction, all of the common shares of Atlantic Power (“Common Shares”) will be acquired for US$3.03 in cash per Common Share (less applicable withholdings) and all of the preferred shares of APPEL (“Preferred Shares”) will be acquired for C$22.00 in cash per Preferred Share (less applicable withholdings).

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The Transaction was approved by approximately 87% of the votes cast by Common Shareholders (in excess of the required percentage of votes cast of 662/3%) and approximately 74% of the votes cast by Preferred Shareholders (in excess of the required percentage of votes cast of 662/3%). In addition, approximately 78% of the votes cast by Preferred Shareholders were voted in favor of the proposed continuance of APPEL under the laws of the Province of British Columbia (in excess of the required percentage of votes cast of 662/3%). Additional details regarding the voting results from the meetings will be filed on SEDAR and EDGAR.

Over the last 12 months, AT stock rose by 49.25%. The one-year Atlantic Power Corporation stock forecast points to a potential upside of 2.6. The average equity rating for AT stock is currently 2.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $271.98 million, with 88.90 million shares outstanding and 85.56 million shares in the current float. Compared to the average trading volume of 1.70M shares, AT stock reached a trading volume of 4010015 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Atlantic Power Corporation [AT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AT shares is $3.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

National Bank Financial have made an estimate for Atlantic Power Corporation shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on April 30, 2020. The new note on the price target was released on May 03, 2019, representing the official price target for Atlantic Power Corporation stock.

The Average True Range (ATR) for Atlantic Power Corporation is set at 0.05, with the Price to Sales ratio for AT stock in the period of the last 12 months amounting to 1.00. Price to Free Cash Flow for AT in the course of the last twelve months was 3.30 with Quick ratio for the last quarter at 0.60.

AT Stock Performance Analysis:

Atlantic Power Corporation [AT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.01. With this latest performance, AT shares gained by 3.09% in over the last four-week period, additionally plugging by 49.25% over the last 6 months – not to mention a rise of 49.25% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AT stock in for the last two-week period is set at 69.64, with the RSI for the last a single of trading hit 76.14, and the three-weeks RSI is set at 66.63 for Atlantic Power Corporation [AT]. The present Moving Average for the last 50 days of trading for this stock 2.91, while it was recorded at 2.92 for the last single week of trading, and 2.28 for the last 200 days.

Insight into Atlantic Power Corporation Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Atlantic Power Corporation [AT] shares currently have an operating margin of +13.93 and a Gross Margin at +23.05. Atlantic Power Corporation’s Net Margin is presently recorded at +27.02.

Return on Total Capital for AT is now 5.26, given the latest momentum, and Return on Invested Capital for the company is 11.55. Return on Equity for this stock inclined to 51.80, with Return on Assets sitting at 8.60. When it comes to the capital structure of this company, Atlantic Power Corporation [AT] has a Total Debt to Total Equity ratio set at 358.70. Additionally, AT Total Debt to Total Capital is recorded at 78.20, with Total Debt to Total Assets ending up at 67.15.

Reflecting on the efficiency of the workforce at the company, Atlantic Power Corporation [AT] managed to generate an average of $377,723 per employee. Receivables Turnover for the company is 6.99 with a Total Asset Turnover recorded at a value of 0.32.Atlantic Power Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.80.

AT Stock EPS

With the latest financial reports released by the company, Atlantic Power Corporation posted 0.11/share EPS, while the average EPS was predicted by analysts to be reported at 0.04/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 175.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Atlantic Power Corporation go to 15.50%.

Atlantic Power Corporation [AT] Insider Position Details

There are presently around $140 million, or 53.60% of AT stock, in the hands of institutional investors. The top three institutional holders of AT stocks are: NEUBERGER BERMAN GROUP LLC with ownership of 7,089,334, which is approximately -2.766% of the company’s market cap and around 3.50% of the total institutional ownership; JPMORGAN CHASE & CO, holding 5,737,003 shares of the stock with an approximate value of $17.21 million in AT stocks shares; and BLACKROCK INC., currently with $14.48 million in AT stock with ownership of nearly 4.03% of the company’s market capitalization.

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Positions in Atlantic Power Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 51 institutional holders increased their position in Atlantic Power Corporation [NYSE:AT] by around 3,210,961 shares. Additionally, 47 investors decreased positions by around 6,209,740 shares, while 17 investors held positions by with 37,377,176 shares. The mentioned changes placed institutional holdings at 46,797,877 shares, according to the latest SEC report filing. AT stock had 14 new institutional investments in for a total of 428,983 shares, while 13 institutional investors sold positions of 3,499,989 shares during the same period.

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