TransAlta Corporation (NYSE:TAC) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) have been given an average rating of “Moderate Buy” by the nine research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $22.25.

A number of research analysts have recently commented on the company. TD Cowen assumed coverage on TransAlta in a research report on Wednesday, June 10th. They set a “buy” rating on the stock. Royal Bank Of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of TransAlta in a report on Tuesday, March 24th. TD Securities reiterated a “buy” rating on shares of TransAlta in a research note on Thursday, May 7th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TransAlta in a research report on Thursday, April 16th. Finally, National Bank Financial upgraded TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, March 24th.

Institutional Trading of TransAlta

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd purchased a new stake in TransAlta in the 4th quarter worth about $37,000. EverSource Wealth Advisors LLC raised 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 acquiring an additional 812 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of TransAlta in the 4th quarter worth approximately $50,000. Warren Street Wealth Advisors LLC bought a new stake in TransAlta during the 4th quarter valued at $129,000. Finally, Ritter Alpha LP bought a new stake in TransAlta during the fourth quarter valued at about $131,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Stock Up 0.1%

TAC stock opened at $13.48 on Friday. TransAlta has a twelve month low of $10.28 and a twelve month 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 firm has a market capitalization of $4.26 billion, a PE ratio of -24.96 and a beta of 0.69. The stock has a 50-day simple moving average of $13.24 and a two-hundred day simple moving average of $13.05.

TransAlta (NYSE:TAC) (TSE:TA) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $406.19 million during the quarter, compared to analyst estimates of $436.36 million. On average, equities analysts predict that TransAlta will post 0.22 EPS for the current fiscal year.

TransAlta Company 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.