George Fisher
Utilities, industrials, newsletter provider, value

Atlantic Power - Buy This Merchant Power Producer For A Turnaround In FFO

With the announcement of 3rd quarter results and weaker management guidance, Atlantic Power (NYSE:AT) share prices were hammered this month, falling from $15 to $12. This haircut makes AT an intriguing value play for those who can stomach additional volatility and who have patience for a turnaround. While the third quarter operating numbers were within expectations, future guidance offered by management was far from rosy.

Atlantic Power is a small-cap merchant power electrical producer with assets in Canada and the U.S. Ninety-six percent of power generated is from "clean" resources, including biomass, wind, hydro, and natural gas. AT generates 2,140-MW of electricity from 31 sites. Including projects under development, natural gas comprises 67% of generating capacity, wind 16%,...

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