Desjardins started coverage on shares of TransAlta (NYSE:TAC - Free Report) TSE: TA in a research note published on Wednesday morning, StockNewsAPI reports. The firm issued a buy rating on the utilities provider's stock.
Separately, StockNews.com lowered shares of TransAlta from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, September 25th.
Get Our Latest Stock Report on TransAlta
TransAlta Stock Up 3.8 %
NYSE TAC traded up $0.38 during trading hours on Wednesday, hitting $10.47. The company's stock had a trading volume of 435,478 shares, compared to its average volume of 742,543. The company has a market capitalization of $3.12 billion, a PE ratio of 6.68 and a beta of 0.92. 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 52 week low of $5.94 and a 52 week high of $10.73. The company's 50-day simple moving average is $9.72 and its two-hundred day simple moving average is $8.09.
TransAlta (NYSE:TAC - Get Free Report) TSE: TA last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.08. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. The company had revenue of $425.37 million for the quarter. During the same quarter in the prior year, the business earned $0.17 EPS. Research analysts anticipate that TransAlta will post 0.69 EPS for the current fiscal year.
TransAlta Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be paid a dividend of $0.044 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, November 29th. TransAlta's payout ratio is 11.26%.
Hedge Funds Weigh In On TransAlta
Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in TransAlta by 1,381.5% in the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 3,951 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in TransAlta in the fourth quarter valued at approximately $33,000. Financial Management Professionals Inc. bought a new position in TransAlta during the third quarter valued at $42,000. Mather Group LLC. purchased a new stake in TransAlta in the second quarter worth $64,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of TransAlta in the first quarter valued at $66,000. Institutional investors own 59.00% of the company's stock.
About TransAlta
(
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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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