Topic: How To Invest

Pat: Your opinion on Atlantic Power Corp? Thanks.

Article Excerpt

Atlantic Power Corp., $11.93, symbol ATP on Toronto (Shares outstanding: 60.4 million; Market cap: $720.6 million), owns interests in 12 power plants located near large U.S. cities in Florida, California, New Jersey, New Mexico, Maine, Texas and Washington State. These plants have a total generating capacity of 1,823 megawatts; Atlantic Power’s share is 807 megawatts. The company also owns an 84-mile (135 kilometre) power-transmission system in California. The Caisse de Dépôt et Placement du Québec owns 19% of the company. Atlantic Power originally set itself up as a type of income trust in 2004. But unlike most trusts, it issued Income Participating Securities instead of regular trust units. Each Income Participating Security consisted of one common share and one debt security. This structure made it easier for U.S.-based corporations like Atlantic Power to gain access to Canada’s income-trust market. Atlantic Power first sold Income Participating Securities to the public for $10.00 each, and began trading on November 18, 2004. In response to…