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

TransAlta Corporation (NYSE:TAC) (TSE:TA) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.25.

A number of analysts have weighed in on TAC shares. BMO Capital Markets set a $25.00 price objective on shares of TransAlta in a research note on Tuesday. TD Securities reiterated a “buy” rating on shares of TransAlta in a research note on Thursday, May 7th. National Bank Financial upgraded shares of TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Weiss Ratings lowered shares of TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TransAlta in a research note on Thursday, April 16th.

TransAlta Stock Down 0.4%

NYSE:TAC opened at $12.46 on Wednesday. The firm has a market cap of $3.71 billion, a P/E ratio of -23.08 and a beta of 0.69. The company has a debt-to-equity ratio of 6.61, a quick ratio of 0.70 and a current ratio of 0.76. TransAlta has a fifty-two week low of $10.22 and a fifty-two week high of $17.88. The firm has a 50-day simple moving average of $13.14 and a two-hundred day simple moving average of $13.12.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $406.19 million during the quarter, compared to analyst estimates of $436.36 million. TransAlta had a negative net margin of 9.46% and a positive return on equity of 9.52%. Analysts predict that TransAlta will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of TransAlta

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of TransAlta in the fourth quarter worth approximately $37,000. EverSource Wealth Advisors LLC grew its stake 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 worth $38,000 after acquiring an additional 812 shares during the period. FNY Investment Advisers LLC bought a new stake in shares of TransAlta in the fourth quarter worth approximately $50,000. Warren Street Wealth Advisors LLC bought a new stake in shares of TransAlta in the fourth quarter worth approximately $129,000. Finally, Ritter Alpha LP bought a new stake in TransAlta during the fourth quarter valued at approximately $131,000. 59.00% of the stock is currently owned by institutional investors.

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.