Lombard Odier Asset Management USA Corp Trims Position in TransAlta Corporation $TAC

Lombard Odier Asset Management USA Corp lessened its stake in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) by 56.4% during the 4th quarter, Holdings Channel reports. The fund owned 74,625 shares of the utilities provider’s stock after selling 96,375 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in TransAlta were worth $944,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of TransAlta by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 10,949,384 shares of the utilities provider’s stock worth $149,569,000 after acquiring an additional 248,027 shares during the period. Bank of Montreal Can boosted its stake in TransAlta by 15.1% during the third quarter. Bank of Montreal Can now owns 10,425,309 shares of the utilities provider’s stock worth $142,373,000 after buying an additional 1,369,830 shares during the period. Oaktree Capital Management LP boosted its stake in TransAlta by 5.4% during the third quarter. Oaktree Capital Management LP now owns 6,415,253 shares of the utilities provider’s stock worth $87,648,000 after buying an additional 330,000 shares during the period. JPMorgan Chase & Co. boosted its stake in TransAlta by 493.5% during the third quarter. JPMorgan Chase & Co. now owns 100,317 shares of the utilities provider’s stock worth $1,371,000 after buying an additional 83,414 shares during the period. Finally, Aventail Capital Group LP purchased a new position in TransAlta during the third quarter worth about $38,633,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Trading Down 0.3%

Shares of TAC stock opened at $13.54 on Wednesday. The company has a debt-to-equity ratio of 6.61, a quick ratio of 0.70 and a current ratio of 0.76. The stock has a market capitalization of $4.28 billion, a P/E ratio of -25.06 and a beta of 0.69. The company has a 50 day moving average price of $13.14 and a 200 day moving average price of $13.10. TransAlta Corporation has a fifty-two week low of $10.28 and a fifty-two week 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 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 analysts’ expectations of $436.36 million. TransAlta had a negative net margin of 9.46% and a positive return on equity of 9.52%. Equities research analysts predict that TransAlta Corporation will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $24.00 target price on shares of TransAlta in a research note on Tuesday, March 24th. BMO Capital Markets started coverage on TransAlta in a research note on Wednesday, June 10th. They set an “outperform” rating on the stock. Weiss Ratings lowered TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. TD Cowen assumed coverage on TransAlta in a research note on Wednesday, June 10th. They issued a “buy” rating for the company. Finally, National Bank Financial raised TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.25.

TransAlta 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.