CenterBook Partners LP increased its holdings in shares of TransAlta Corporation (NYSE:TAC – Free Report) (TSE:TA) by 401.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 377,942 shares of the utilities provider’s stock after purchasing an additional 302,570 shares during the period. CenterBook Partners LP owned 0.13% of TransAlta worth $4,777,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Rubric Capital Management LP increased its position in TransAlta by 32.9% during the 2nd quarter. Rubric Capital Management LP now owns 15,948,451 shares of the utilities provider’s stock valued at $172,084,000 after buying an additional 3,948,451 shares in the last quarter. Vanguard Group Inc. increased its position in TransAlta by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 11,123,833 shares of the utilities provider’s stock valued at $140,694,000 after buying an additional 174,449 shares in the last quarter. Bank of Montreal Can increased its position in TransAlta by 15.1% during the 3rd quarter. Bank of Montreal Can now owns 10,425,309 shares of the utilities provider’s stock valued at $142,373,000 after buying an additional 1,369,830 shares in the last quarter. Oaktree Capital Management LP increased its holdings in shares of TransAlta by 5.4% in the third quarter. Oaktree Capital Management LP now owns 6,415,253 shares of the utilities provider’s stock valued at $87,648,000 after purchasing an additional 330,000 shares during the period. Finally, Norges Bank acquired a new position in shares of TransAlta in the fourth quarter valued at about $45,298,000. 59.00% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of TransAlta in a report on Tuesday, March 24th. TD Securities reissued a “buy” rating on shares of TransAlta in a report on Thursday, May 7th. National Bank Financial raised TransAlta from a “sector perform” rating to an “outperform” rating 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. Finally, Weiss Ratings lowered TransAlta from a “sell (d+)” rating to a “sell (d)” rating 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.33.
TransAlta Stock Down 1.4%
Shares of TAC opened at $12.51 on Tuesday. TransAlta Corporation has a 52 week low of $10.22 and a 52 week high of $17.88. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 6.61. The company has a market capitalization of $3.72 billion, a price-to-earnings ratio of -23.16 and a beta of 0.69. The stock’s 50-day moving average price is $13.15 and its 200-day moving average price is $13.13.
TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The firm had revenue of $406.19 million for the quarter, compared to the consensus estimate of $436.36 million. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%. On average, sell-side analysts predict that TransAlta Corporation will post 0.26 EPS for the current year.
TransAlta Profile
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.
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