Ardsley Advisory Partners LP Has $2.28 Million Holdings in TransAlta Corporation $TAC

Ardsley Advisory Partners LP raised its holdings in TransAlta Corporation (NYSE:TAC) (TSE:TA) by 56.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 180,000 shares of the utilities provider’s stock after acquiring an additional 65,000 shares during the quarter. Ardsley Advisory Partners LP’s holdings in TransAlta were worth $2,277,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in TransAlta in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC lifted its stake in TransAlta by 37.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock valued at $38,000 after buying an additional 812 shares during the period. FNY Investment Advisers LLC acquired a new position in TransAlta in the fourth quarter valued at approximately $50,000. Warren Street Wealth Advisors LLC acquired a new position in TransAlta in the fourth quarter valued at approximately $129,000. Finally, Ritter Alpha LP acquired a new position in TransAlta in the fourth quarter valued at approximately $131,000. 59.00% of the stock is owned by institutional investors and hedge funds.

TransAlta Price Performance

Shares of NYSE:TAC opened at $13.58 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.76 and a debt-to-equity ratio of 6.61. TransAlta Corporation has a twelve month low of $10.28 and a twelve month high of $17.88. The stock’s 50 day moving average is $13.14 and its 200-day moving average is $13.09. The firm has a market capitalization of $4.29 billion, a price-to-earnings ratio of -25.14 and a beta of 0.69.

TransAlta (NYSE:TAC) (TSE:TA) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%.The company had revenue of $406.19 million for the quarter, compared to analyst estimates of $436.36 million. Sell-side analysts forecast that TransAlta Corporation will post 0.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on TAC. TD Securities reissued a “buy” rating on shares of TransAlta in a research note on Thursday, May 7th. TD Cowen started coverage on TransAlta in a research note on Wednesday, June 10th. They issued a “buy” rating on the stock. Weiss Ratings raised TransAlta from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. Scotiabank raised TransAlta to a “strong-buy” rating in a research report on Wednesday, June 10th. Finally, BMO Capital Markets started coverage on TransAlta in a research report on Wednesday, June 10th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

About TransAlta

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.