TransAlta Corporation (NYSE:TAC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $19.8750.

Several research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of TransAlta in a research report on Wednesday, January 21st. CIBC reissued an “outperform” rating on shares of TransAlta in a research report on Monday, October 20th. Royal Bank Of Canada restated an “outperform” rating on shares of TransAlta in a report on Monday, November 10th. Zacks Research raised shares of TransAlta from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Finally, TD Securities restated a “buy” rating on shares of TransAlta in a research note on Wednesday, December 10th.

TransAlta Price Performance

NYSE TAC opened at $12.57 on Thursday. The company has a market cap of $3.73 billion, a PE ratio of -26.19 and a beta of 0.78. The firm’s 50 day moving average price is $13.10 and its 200-day moving average price is $13.66. The company has a debt-to-equity ratio of 5.22, a quick ratio of 0.71 and a current ratio of 0.79. TransAlta has a 52-week low of $7.82 and a 52-week high of $17.88.

TransAlta (NYSE:TAC) (TSE:TA) last posted its earnings results on Thursday, November 6th. The utilities provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The company had revenue of $441.57 million for the quarter, compared to analysts’ expectations of $558.84 million. TransAlta had a positive return on equity of 3.00% and a negative net margin of 7.39%. Sell-side analysts forecast that TransAlta will post 0.41 EPS for the current fiscal year.

TransAlta Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Sunday, March 1st will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, February 27th. TransAlta’s dividend payout ratio is currently -39.58%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC purchased a new stake in TransAlta in the fourth quarter valued at about $50,000. Savant Capital LLC acquired a new position in shares of TransAlta during the second quarter valued at about $127,000. Warren Street Wealth Advisors LLC purchased a new position in shares of TransAlta in the 4th quarter valued at approximately $129,000. Sage Rhino Capital LLC acquired a new stake in TransAlta in the 3rd quarter worth approximately $139,000. Finally, Fox Run Management L.L.C. purchased a new stake in TransAlta during the 2nd quarter worth approximately $140,000. 59.00% of the stock is owned by institutional investors and hedge funds.

About TransAlta

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.