Topic: How To Invest

Hi there: What’s your take on Atlantic Power? It just tanked. Thanks.

Article Excerpt

Atlantic Power, $5.70, symbol ATP on Toronto (Shares outstanding: 119.3 million; Market cap: $681.1 million; www.atlanticpower.com), operates 33 power plants in 12 U.S. states and two Canadian provinces. In all, these facilities are capable of generating 2,560 megawatts. Atlantic also owns an 84-mile, 500-kilovolt electric transmission line in California and is building a 53-megawatt biomass project in Georgia. Atlantic Power also owns a majority interest in Rollcast Energy, a biomass power plant developer in Charlotte, North Carolina, and 100% of Ridgeline Energy Holdings, a renewable energy development company in Seattle, Washington. Ridgeline has about 600 megawatts of wind and solar projects under development. The company’s shares fell from $15 to $12 at the start of November 2012, when it forecast lower power rates after it renews contracts at its Lake and Auburndale plants in Florida this year. Atlantic Power has now agreed to sell those two plants, as well as its Pasco plant, for $136 million. The company’s shares took another big drop…