Capital Innovations LLC Buys Shares of 99,595 TransAlta Corporation $TAC

Capital Innovations LLC bought a new stake in TransAlta Corporation (NYSE:TAC) (TSE:TA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 99,595 shares of the utilities provider’s stock, valued at approximately $1,259,000.

Several other hedge funds and other institutional investors have also modified their holdings of TAC. Rubric Capital Management LP raised its position in TransAlta by 32.9% during the second 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 during the period. Norges Bank acquired a new stake in TransAlta during the 4th quarter worth about $45,298,000. Aventail Capital Group LP acquired a new stake in TransAlta during the 3rd quarter worth about $38,633,000. AustralianSuper Pty Ltd purchased a new position in TransAlta during the 3rd quarter valued at about $36,395,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of TransAlta in the 3rd quarter valued at about $20,533,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

Analyst Ratings Changes

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

TransAlta Stock Up 1.2%

TAC opened at $14.33 on Wednesday. TransAlta Corporation has a fifty-two week low of $9.93 and a fifty-two week high of $17.88. The business has a 50-day moving average of $13.06 and a 200-day moving average of $13.18. 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 company has a market capitalization of $4.27 billion, a PE ratio of -26.53 and a beta of 0.69.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $436.36 million. Equities research analysts forecast that TransAlta Corporation will post 0.26 EPS for the current fiscal 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.