Cibc World Market Inc. Has $19.91 Million Stake in TransAlta Corporation $TAC

Cibc World Market Inc. decreased its position in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,574,000 shares of the utilities provider’s stock after selling 108,899 shares during the period. Cibc World Market Inc. owned about 0.53% of TransAlta worth $19,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in shares of TransAlta by 37.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 812 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of TransAlta by 1.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 48,926 shares of the utilities provider’s stock valued at $620,000 after purchasing an additional 893 shares in the last quarter. Creative Planning increased its holdings in shares of TransAlta by 2.0% in the third quarter. Creative Planning now owns 52,339 shares of the utilities provider’s stock valued at $715,000 after purchasing an additional 1,003 shares in the last quarter. Savant Capital LLC increased its holdings in shares of TransAlta by 10.4% in the fourth quarter. Savant Capital LLC now owns 16,568 shares of the utilities provider’s stock valued at $209,000 after purchasing an additional 1,566 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of TransAlta by 5.7% in the third quarter. CANADA LIFE ASSURANCE Co now owns 34,051 shares of the utilities provider’s stock valued at $464,000 after purchasing an additional 1,827 shares in the last quarter. Institutional investors and hedge funds own 59.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TAC shares. BMO Capital Markets reissued an “outperform” rating on shares of TransAlta in a report on Thursday, May 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $24.00 price target on shares of TransAlta in a report on Tuesday, March 24th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TransAlta in a report on Thursday, April 16th. Weiss Ratings lowered shares of TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, May 7th. Finally, TD Securities reissued a “buy” rating on shares of TransAlta in a report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $21.33.

TransAlta Price Performance

Shares of TAC stock opened at $12.68 on Friday. TransAlta Corporation has a 52-week low of $10.19 and a 52-week high of $17.88. The stock has a market cap of $3.78 billion, a PE ratio of -23.49 and a beta of 0.69. The company has a debt-to-equity ratio of 6.61, a quick ratio of 0.70 and a current ratio of 0.76. The firm’s 50 day moving average price is $13.16 and its two-hundred day moving average price is $13.15.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. TransAlta had a negative net margin of 9.46% and a positive return on equity of 9.52%. The firm had revenue of $406.19 million for the quarter, compared to analysts’ expectations of $436.36 million. As a group, analysts forecast that TransAlta Corporation will post 0.26 EPS for the current year.

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.