Ardsley Advisory Partners LP Has $2.28 Million Stake in TransAlta Corporation $TAC

Ardsley Advisory Partners LP grew its holdings in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) by 56.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,000 shares of the utilities provider’s stock after acquiring an additional 65,000 shares during the quarter. Ardsley Advisory Partners LP owned 0.06% of TransAlta worth $2,277,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TAC. Caitong International Asset Management Co. Ltd acquired a new position in TransAlta during the fourth quarter worth about $37,000. EverSource Wealth Advisors LLC raised its stake in TransAlta by 37.1% during the fourth 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 in the last quarter. FNY Investment Advisers LLC acquired a new position in TransAlta during the fourth quarter worth about $50,000. Warren Street Wealth Advisors LLC acquired a new position in TransAlta during the fourth quarter worth about $129,000. Finally, Ritter Alpha LP acquired a new position in TransAlta during the fourth quarter worth about $131,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

Analyst Upgrades and Downgrades

TAC has been the subject of several research analyst reports. TD Securities reissued a “buy” rating on shares of TransAlta in a research note on Thursday, May 7th. Scotiabank upgraded TransAlta to a “strong-buy” rating in a report on Wednesday, June 10th. Weiss Ratings upgraded TransAlta from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TransAlta in a report on Thursday, April 16th. Finally, TD Cowen started coverage on TransAlta in a report on Wednesday, June 10th. They set a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.25.

TransAlta Stock Performance

Shares of TAC stock opened at $13.58 on Thursday. The business’s 50 day simple moving average is $13.14 and its 200 day simple moving average is $13.09. TransAlta Corporation has a one year low of $10.28 and a one year high of $17.88. The stock has a market capitalization of $4.29 billion, a PE ratio of -25.14 and a beta of 0.69. The company has a debt-to-equity ratio of 6.61, a current ratio of 0.76 and a quick ratio of 0.70.

TransAlta (NYSE:TAC) (TSE:TA) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%.The business had revenue of $406.19 million for the quarter, compared to analysts’ expectations of $436.36 million. As a group, research analysts forecast that TransAlta Corporation will post 0.22 earnings per share 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.