TransAlta Corporation (NYSE:TAC) Given Average Rating of “Moderate Buy” by Analysts

TransAlta Corporation (NYSE:TAC) (TSE:TA) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $22.25.

Several research analysts have recently weighed in on the company. TD Securities reiterated 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 research note on Wednesday, June 10th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TransAlta in a research note on Thursday, April 16th. National Bank Financial upgraded TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Finally, BMO Capital Markets began coverage on TransAlta in a research note on Wednesday, June 10th. They issued an “outperform” rating for the company.

TransAlta Stock Up 0.1%

Shares of NYSE:TAC opened at $13.41 on Wednesday. The company has a market capitalization of $4.24 billion, a PE ratio of -24.83 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. The business has a fifty day moving average price of $13.14 and a two-hundred day moving average price of $13.10. TransAlta has a 1 year low of $10.28 and a 1 year high of $17.88.

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. The firm had revenue of $406.19 million during 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%. Analysts forecast that TransAlta will post 0.22 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Value Aligned Research Advisors LLC bought a new position in TransAlta in the 1st quarter worth about $34,128,000. EverSource Wealth Advisors LLC boosted its stake in TransAlta by 54.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,642 shares of the utilities provider’s stock worth $61,000 after purchasing an additional 1,642 shares during the period. Renaissance Technologies LLC raised its holdings in shares of TransAlta by 17.9% in the 1st quarter. Renaissance Technologies LLC now owns 1,428,195 shares of the utilities provider’s stock valued at $18,709,000 after acquiring an additional 217,200 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of TransAlta during the 1st quarter valued at about $5,448,000. Finally, Bank of Nova Scotia boosted its position in shares of TransAlta by 23.8% during the 1st quarter. Bank of Nova Scotia now owns 1,338,554 shares of the utilities provider’s stock valued at $17,595,000 after acquiring an additional 257,356 shares during the last quarter. Institutional investors own 59.00% of the company’s stock.

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.