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

Shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) have been assigned a consensus recommendation of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $23.00.

Several brokerages have issued reports on TAC. BMO Capital Markets started coverage on TransAlta in a research report on Wednesday, June 10th. They set an “outperform” rating for the company. Scotiabank upgraded TransAlta to a “strong-buy” rating in a report on Wednesday, June 10th. Weiss Ratings upgraded TransAlta from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, June 16th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TransAlta in a research report on Friday, July 17th. Finally, TD Cowen started coverage on TransAlta in a research note on Wednesday, June 10th. They issued a “buy” rating on the stock.

TransAlta Price Performance

TransAlta stock opened at $12.46 on Thursday. TransAlta has a 12-month low of $11.38 and a 12-month high of $17.88. The company has a current ratio of 0.76, a quick ratio of 0.70 and a debt-to-equity ratio of 6.61. The firm has a 50-day moving average price of $13.63 and a 200-day moving average price of $13.18. The firm has a market capitalization of $3.94 billion, a PE ratio of -23.08 and a beta of 0.69.

TransAlta (NYSE:TAC) (TSE:TA) last issued 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 negative net margin of 9.46% and a positive return on equity of 9.52%. The company had revenue of $406.19 million for the quarter, compared to the consensus estimate of $436.36 million. As a group, equities research analysts forecast that TransAlta will post 0.17 EPS for the current year.

TransAlta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.07 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.2%. TransAlta’s dividend payout ratio is presently -37.04%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TAC. Caitong International Asset Management Co. Ltd purchased a new stake in TransAlta in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC increased its position in shares of TransAlta by 37.1% during 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 purchased a new position in shares of TransAlta during the fourth quarter worth approximately $50,000. Warren Street Wealth Advisors LLC purchased a new position in shares of TransAlta during the fourth quarter worth approximately $129,000. Finally, Ritter Alpha LP bought a new stake in shares of TransAlta during the fourth quarter valued at approximately $131,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

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.