Jefferies Financial Group Begins Coverage on TransAlta (NYSE:TAC)

Research analysts at Jefferies Financial Group began coverage on shares of TransAlta (NYSE:TAC - Get Free Report) TSE: TA in a report issued on Friday, MarketBeat reports. The brokerage set a "hold" rating on the utilities provider's stock.

A number of other analysts have also recently issued reports on TAC. StockNews.com cut TransAlta from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Cibc World Mkts raised shares of TransAlta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Scotiabank lowered shares of TransAlta from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, January 23rd. Finally, CIBC raised shares of TransAlta from a "neutral" rating to an "outperformer" rating and reduced their target price for the stock from $23.00 to $19.50 in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $19.50.

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TransAlta Stock Down 3.1 %

TAC traded down $0.28 during trading hours on Friday, hitting $8.49. 2,070,905 shares of the company's stock were exchanged, compared to its average volume of 1,866,696. The stock's 50-day moving average is $9.73 and its two-hundred day moving average is $11.10. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. TransAlta has a 1-year low of $5.94 and a 1-year high of $14.64. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 20.70 and a beta of 0.72.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last issued its quarterly earnings results on Thursday, February 20th. The utilities provider reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28). The company had revenue of $484.60 million for the quarter. TransAlta had a net margin of 6.38% and a return on equity of 18.47%. Sell-side analysts predict that TransAlta will post 0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TransAlta

A number of hedge funds have recently bought and sold shares of the business. NBC Securities Inc. grew its position in shares of TransAlta by 145,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,914 shares of the utilities provider's stock worth $27,000 after purchasing an additional 2,912 shares in the last quarter. Tobam acquired a new stake in TransAlta during the fourth quarter worth approximately $46,000. Ballentine Partners LLC bought a new position in TransAlta during the 4th quarter worth $145,000. Orion Portfolio Solutions LLC acquired a new position in TransAlta in the 4th quarter valued at $147,000. Finally, Private Advisor Group LLC bought a new stake in shares of TransAlta during the 4th quarter valued at $150,000. 59.00% of the stock is owned by institutional investors.

About TransAlta

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.