TransAlta (NYSE:TAC - Get Free Report) TSE: TA was downgraded by research analysts at StockNews.com from a "strong-buy" rating to a "buy" rating in a report released on Wednesday.
TransAlta Stock Down 1.7 %
NYSE TAC traded down $0.15 during trading on Wednesday, reaching $8.84. 570,264 shares of the company's stock were exchanged, compared to its average volume of 757,945. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 3.43. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $9.95. The company's fifty day simple moving average is $7.62 and its 200-day simple moving average is $7.08. The firm has a market capitalization of $2.67 billion, a PE ratio of 5.70 and a beta of 0.88.
TransAlta (NYSE:TAC - Get Free Report) TSE: TA last announced its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.08. TransAlta had a net margin of 18.41% and a return on equity of 47.71%. The firm had revenue of $425.37 million for the quarter. During the same period in the previous year, the firm posted $0.17 earnings per share. Sell-side analysts predict that TransAlta will post 0.75 EPS for the current year.
Institutional Investors Weigh In On TransAlta
A number of hedge funds and other institutional investors have recently made changes to their positions in TAC. Creative Planning raised its position in TransAlta by 161.9% during the second quarter. Creative Planning now owns 50,311 shares of the utilities provider's stock valued at $356,000 after acquiring an additional 31,103 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in TransAlta by 22.3% in the second quarter. The Manufacturers Life Insurance Company now owns 929,631 shares of the utilities provider's stock worth $6,582,000 after acquiring an additional 169,219 shares in the last quarter. Marshall Wace LLP bought a new position in shares of TransAlta during the 2nd quarter valued at $252,000. Evergreen Capital Management LLC bought a new position in shares of TransAlta during the 2nd quarter valued at $72,000. Finally, Clayton Partners LLC raised its holdings in shares of TransAlta by 2,293.5% during the 2nd quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider's stock valued at $3,244,000 after purchasing an additional 439,013 shares in the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.
About TransAlta
(
Get Free Report)
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.
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