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Atlantic Power Corporation Message Board

  • luddwig31 luddwig31 Mar 1, 2013 10:26 AM Flag

    Utility Forecaster

    I've had it with online stock advisors.
    This guy recommeded ATP, WIN & EXE - all of which have burned me.
    Feb issue comments on ATP:
    Atlantic Power’s obvious attraction is its 9 percent yield.
    The prospective expiration of two power sales contracts in Florida this year continues to hang over the
    stock price, in part because of management’s statement
    that maintaining its dividend policy would require
    replacing the revenue with new projects.
    The company took a $50 million non-cash fourthquarter writedown of one of the plants.
    Shortly thereafter, however, Atlantic Power increased
    its generating capacity by 20 percent by adding 450
    megawatts of wind output. Some 300 megawatts of this
    was by completing the Canadian Hills project in Oklahoma on time and within budget.
    The rest flowed from the Ridgeline acquisition of
    solar and wind assets from Veolia Environnement SA
    (France: VIE, NYSE: VE).
    When it was signed the Ridgeline deal’s value was
    basically in completed plants. Now, with the extension
    of wind power credits, the potential development pipeline is considerably more attractive.
    Although Atlantic Power has yet to announce new
    projects or asset sales, both are likely to enrich cash flows.
    Ultimately, the company is constrained by the time
    management has to focus resources. But Atlantic
    Power looks set to generate robust total returns for
    a long time to come; buy up to USD14 if you
    haven’t yet.

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    • Analysis might be right long term. I was scared off a while back trying to determine how the divys get taxed. But I am in for the long term on what looks like a buying oppurtunity. We'll see what happens on the taxes I guess. It is more of a growth story so cutting the dividend is certainly not the end of the world and if the story plays out positive, it was probably a good idea.

2.56+0.03(+1.19%)Aug 24 4:02 PMEDT