StockNews.com upgraded shares of TransAlta (NYSE:TAC - Free Report) TSE: TA from a buy rating to a strong-buy rating in a research report report published on Tuesday morning.
TransAlta Price Performance
Shares of TAC stock remained flat at $8.43 during mid-day trading on Tuesday. 574,073 shares of the stock traded hands, compared to its average volume of 760,798. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 5.44 and a beta of 0.88. The company has a fifty day simple moving average of $7.41 and a 200-day simple moving average of $7.01. 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 one year low of $5.94 and a one year high of $10.04.
TransAlta (NYSE:TAC - Get Free Report) TSE: TA last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.08. The business had revenue of $425.37 million during the quarter. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. During the same period last year, the company posted $0.17 earnings per share. On average, analysts expect that TransAlta will post 0.75 EPS for the current year.
TransAlta Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Sunday, September 1st will be paid a $0.044 dividend. This is a boost from TransAlta's previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.18 annualized dividend and a dividend yield of 2.09%. TransAlta's dividend payout ratio (DPR) is 10.97%.
Institutional Investors Weigh In On TransAlta
Several institutional investors have recently modified their holdings of the company. NBC Securities Inc. raised its holdings in shares of TransAlta by 156.3% in the 1st quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider's stock worth $26,000 after purchasing an additional 2,500 shares during the period. Blue Trust Inc. raised its stake in shares of TransAlta by 1,381.5% in the 2nd 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 period. PNC Financial Services Group Inc. purchased a new position in shares of TransAlta in the 4th quarter valued at $33,000. Mather Group LLC. purchased a new stake in TransAlta during the 2nd quarter worth $64,000. Finally, Janney Montgomery Scott LLC acquired a new stake in TransAlta in the 1st quarter valued at $66,000. Hedge funds and other 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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