TransAlta (NYSE:TAC) Stock Rating Upgraded by National Bank Financial

TransAlta (NYSE:TAC) (TSE:TA) was upgraded by research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a report released on Tuesday, Marketbeat.com reports.

A number of other research analysts have also issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of TransAlta in a research report on Wednesday, January 21st. TD Securities reaffirmed a “buy” rating on shares of TransAlta in a research report on Wednesday, December 10th. Finally, Zacks Research upgraded TransAlta from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.33.

TransAlta Stock Up 2.5%

Shares of NYSE:TAC opened at $13.07 on Tuesday. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of -27.81 and a beta of 0.77. TransAlta has a 1-year low of $7.82 and a 1-year high of $17.88. The company’s fifty day moving average is $12.97 and its two-hundred day moving average is $13.84. The company has a debt-to-equity ratio of 6.54, a quick ratio of 0.67 and a current ratio of 0.73.

TransAlta (NYSE:TAC) (TSE:TA) last posted its quarterly earnings results on Friday, February 27th. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $436.10 million during the quarter, compared to analyst estimates of $493.39 million. TransAlta had a negative net margin of 7.51% and a positive return on equity of 10.00%. Equities analysts anticipate that TransAlta will post 0.41 EPS for the current year.

Hedge Funds Weigh In On TransAlta

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in TransAlta in the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC boosted its position in TransAlta by 37.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 812 shares during the period. FNY Investment Advisers LLC bought a new position in shares of TransAlta in the fourth quarter worth $50,000. Warren Street Wealth Advisors LLC bought a new position in shares of TransAlta in the fourth quarter worth $129,000. Finally, Ritter Alpha LP bought a new position in shares of TransAlta in the fourth quarter worth $131,000. 59.00% of the stock is owned by institutional investors.

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.