TransAlta (NYSE:TAC - Get Free Report) TSE: TA was upgraded by analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Thursday.
TransAlta Stock Performance
Shares of NYSE:TAC traded up $0.10 during mid-day trading on Thursday, reaching $8.96. The company had a trading volume of 682,803 shares, compared to its average volume of 752,519. The company's 50-day moving average price is $7.80 and its 200-day moving average price is $7.15. TransAlta has a one year low of $5.94 and a one year high of $9.75. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 5.78 and a beta of 0.91. 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 (NYSE:TAC - Get Free Report) TSE: TA last issued its quarterly earnings results 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 return on equity of 47.71% and a net margin of 18.41%. The firm had revenue of $425.37 million for the quarter. During the same period in the prior year, the company earned $0.17 EPS. As a group, equities research analysts anticipate that TransAlta will post 0.75 EPS for the current fiscal year.
Hedge Funds Weigh In On TransAlta
Hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp bought a new position in TransAlta in the 4th quarter worth about $616,000. Swiss National Bank grew its stake in TransAlta by 4.9% during the fourth quarter. Swiss National Bank now owns 521,900 shares of the utilities provider's stock valued at $4,349,000 after acquiring an additional 24,600 shares in the last quarter. Calton & Associates Inc. purchased a new position in TransAlta during the fourth quarter valued at approximately $93,000. BNP Paribas Financial Markets increased its holdings in TransAlta by 147.2% during the 4th quarter. BNP Paribas Financial Markets now owns 64,434 shares of the utilities provider's stock worth $535,000 after acquiring an additional 38,365 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in TransAlta in the 4th quarter worth approximately $1,835,000. 59.00% of the stock is currently 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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