TransAlta (NYSE:TAC) Hits New 12-Month Low at $5.95

TransAlta Co. (NYSE:TAC) (TSE:TA)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $5.95 and last traded at $5.96, with a volume of 127032 shares traded. The stock had previously closed at $6.10.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 12th.

TransAlta Stock Performance

The firm has a fifty day moving average price of $6.64 and a two-hundred day moving average price of $7.50. The stock has a market capitalization of $1.85 billion, a PE ratio of 3.33 and a beta of 0.83. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.91 and a quick ratio of 0.82.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings results on Friday, February 23rd. The utilities provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). TransAlta had a net margin of 20.05% and a return on equity of 48.42%. The company had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $305.79 million. During the same quarter in the prior year, the business posted ($0.45) earnings per share. The company’s revenue was down 26.9% compared to the same quarter last year. Research analysts expect that TransAlta Co. will post 0.5 EPS for the current year.

Institutional Trading of TransAlta

A number of institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC acquired a new stake in TransAlta during the 3rd quarter worth about $33,000. PNC Financial Services Group Inc. acquired a new position in shares of TransAlta in the 4th quarter valued at about $33,000. NBC Securities Inc. lifted its holdings in shares of TransAlta by 156.3% in the 1st quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock valued at $26,000 after buying an additional 2,500 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of TransAlta by 234.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,367 shares of the utilities provider’s stock valued at $38,000 after buying an additional 3,062 shares during the period. Finally, 1832 Asset Management L.P. lifted its holdings in shares of TransAlta by 153.2% in the 1st quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock valued at $56,000 after buying an additional 3,326 shares during the period. Institutional investors and hedge funds own 59.00% of the company’s stock.

TransAlta Company Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.