Leon Cooperman (Trades, Portfolio) of Omega Investors recently added to his position in Atlas Energy LP (ATLS, Financial), which stems from his interest in the company due to a deal the company announced with Targa Resources Corp (TRGP).
"We have been adding to it, if you check filings, I think, we are up to about 12% of the company and really the deal [with Targa] is out there. It's kind of interesting [...]."
Cooperman believes the deal will "unlock a lot of value in the assets" Atlas Energy owns and is hoping to be a participant in the company's future.
Cooperman, who is 10% owner of the company, increased his position in ATLS by 4.56% on February 13 by purchasing 250,000 shares at an average price of $30.22/share. He now has 5,731,064 shares in his portfolio. Cooperman currently holds 92 stocks in his portfolio, valued at $6.794 billion with a quarter over quarter turnover rate of 12%.
Atlas Energy, which was previously Atlas Pipeline Holdings L.P., was formed in 2005 as a company that manages the operations and activities of the partnership.
ATLS is currently trading at $30.17/share and revenue per share is $66.52, which makes the P/S ratio 0.45. The current dividend yield is 6.60%, which is close to its 5-year high.
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