TransAlta (NYSE:TAC) Receives New Coverage from Analysts at Desjardins

Research analysts at Desjardins initiated coverage on shares of TransAlta (NYSE:TAC) (TSE:TA) in a research note issued to investors on Wednesday, StockNewsAPI reports. The firm set a “buy” rating on the utilities provider’s stock.

Separately, StockNews.com downgraded TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th.

TransAlta Stock Performance

NYSE TAC opened at $10.09 on Wednesday. The company has a market cap of $3.01 billion, a P/E ratio of 6.68 and a beta of 0.92. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75. The stock has a 50-day moving average of $9.72 and a two-hundred day moving average of $8.09. TransAlta has a 1-year low of $5.94 and a 1-year high of $10.73.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.08. The company 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 in the prior year, the firm earned $0.17 earnings per share. As a group, analysts anticipate that TransAlta will post 0.69 EPS for the current year.

Hedge Funds Weigh In On TransAlta

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. purchased a new stake in TransAlta during the fourth quarter worth approximately $33,000. Financial Management Professionals Inc. purchased a new position in TransAlta in the third quarter worth $42,000. Blue Trust Inc. raised its position in TransAlta by 1,381.5% in the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 3,951 shares in the last quarter. Mather Group LLC. purchased a new position in TransAlta in the second quarter worth $64,000. Finally, Evergreen Capital Management LLC purchased a new position in shares of TransAlta in the second quarter valued at $72,000. 59.00% of the stock is owned by institutional investors and hedge funds.

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.