TransAlta (NYSE:TAC) Stock Rating Upgraded by National Bank Financial

TransAlta (NYSE:TAC) (TSE:TA) was upgraded by stock analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a note issued to investors on Tuesday,Finviz reports.

A number of other research firms have also weighed in on TAC. TD Securities reaffirmed a “buy” rating on shares of TransAlta in a research report on Wednesday, December 10th. Weiss Ratings restated a “sell (d+)” rating on shares of TransAlta in a report on Wednesday, January 21st. Finally, Zacks Research raised TransAlta from a “strong sell” rating to a “hold” rating in a research report on Friday, December 5th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, TransAlta presently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

TransAlta Stock Up 2.1%

Shares of NYSE:TAC opened at $12.03 on Tuesday. The stock’s 50-day moving average is $12.94 and its 200 day moving average is $13.85. The company has a market cap of $3.57 billion, a PE ratio of -25.58 and a beta of 0.77. The company has a debt-to-equity ratio of 6.54, a current ratio of 0.73 and a quick ratio of 0.67. TransAlta has a 1 year low of $7.82 and a 1 year high of $17.88.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Friday, February 27th. The utilities provider reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.09). The business had revenue of $436.10 million during the quarter, compared to analysts’ expectations of $493.39 million. TransAlta had a positive return on equity of 10.00% and a negative net margin of 7.51%. Sell-side analysts anticipate that TransAlta will post 0.41 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. AustralianSuper Pty Ltd bought a new stake in TransAlta in the 3rd quarter worth about $36,395,000. Vanguard Group Inc. lifted its stake in TransAlta by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 10,949,384 shares of the utilities provider’s stock valued at $149,569,000 after acquiring an additional 248,027 shares during the period. Bank of Montreal Can boosted its holdings in shares of TransAlta by 15.1% during the 3rd quarter. Bank of Montreal Can now owns 10,425,309 shares of the utilities provider’s stock valued at $142,373,000 after acquiring an additional 1,369,830 shares during the last quarter. Oaktree Capital Management LP boosted its holdings in shares of TransAlta by 5.4% during the 3rd quarter. Oaktree Capital Management LP now owns 6,415,253 shares of the utilities provider’s stock valued at $87,648,000 after acquiring an additional 330,000 shares during the last quarter. Finally, Aventail Capital Group LP bought a new stake in shares of TransAlta in the third quarter worth approximately $38,633,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Company Profile

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.