TransAlta Corporation (NYSE:TAC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) have earned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $22.25.

A number of analysts have recently issued reports on TAC shares. Weiss Ratings raised TransAlta from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, June 16th. BMO Capital Markets started coverage on shares of TransAlta in a research report on Wednesday, June 10th. They issued an “outperform” rating on the stock. Scotiabank upgraded TransAlta to a “strong-buy” rating in a research report on Wednesday, June 10th. National Bank Financial upgraded shares of TransAlta from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TransAlta in a research note on Thursday, April 16th.

TransAlta Stock Performance

TransAlta stock opened at $14.49 on Friday. The company has a market cap of $4.58 billion, a price-to-earnings ratio of -26.84 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. TransAlta has a 12 month low of $10.52 and a 12 month high of $17.88. The stock’s 50-day moving average is $13.38 and its 200-day moving average is $13.09.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. TransAlta had a negative net margin of 9.46% and a positive return on equity of 9.52%. The company had revenue of $406.19 million during the quarter, compared to the consensus estimate of $436.36 million. Equities analysts anticipate that TransAlta will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On TransAlta

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC raised its holdings in shares of TransAlta by 37.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 812 shares in the last quarter. Sage Rhino Capital LLC lifted its holdings in shares of TransAlta by 8.7% in the first quarter. Sage Rhino Capital LLC now owns 11,078 shares of the utilities provider’s stock valued at $145,000 after purchasing an additional 882 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of TransAlta by 1.9% in the fourth quarter. Pictet Asset Management Holding SA now owns 48,926 shares of the utilities provider’s stock worth $620,000 after buying an additional 893 shares during the period. Creative Planning boosted its position in shares of TransAlta by 2.0% in the third quarter. Creative Planning now owns 52,339 shares of the utilities provider’s stock worth $715,000 after buying an additional 1,003 shares during the period. Finally, Savant Capital LLC grew its holdings in shares of TransAlta by 10.4% during the fourth quarter. Savant Capital LLC now owns 16,568 shares of the utilities provider’s stock valued at $209,000 after buying an additional 1,566 shares in the last quarter. 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.