According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “
A number of other brokerages also recently issued reports on TAC. TD Securities boosted their price target on Wheaton Precious Metals from $29.00 to $32.00 and gave the company a buy rating in a report on Tuesday, March 26th. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Industrial Alliance Securities upgraded TransAlta to a buy rating in a report on Tuesday, March 26th. Finally, Credit Suisse Group set a €14.50 ($16.86) price target on Assicurazioni Generali and gave the company a sell rating in a report on Monday, March 18th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $6.75.
Shares of NYSE:TAC opened at $6.24 on Friday. TransAlta has a 1 year low of $3.99 and a 1 year high of $7.61. The stock has a market cap of $1.78 billion, a P/E ratio of -11.77 and a beta of 1.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.34 and a current ratio of 1.63. The firm’s 50-day simple moving average is $6.42.
TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). TransAlta had a negative net margin of 14.67% and a negative return on equity of 8.73%. The business had revenue of $487.41 million for the quarter. Equities research analysts anticipate that TransAlta will post -0.1 earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Hexavest Inc. increased its stake in TransAlta by 2.7% in the 2nd quarter. Hexavest Inc. now owns 244,839 shares of the utilities provider’s stock worth $1,596,000 after buying an additional 6,481 shares in the last quarter. Weiss Asset Management LP purchased a new stake in TransAlta in the 1st quarter worth $2,241,000. Qtron Investments LLC purchased a new stake in TransAlta in the 1st quarter worth $312,000. O Shaughnessy Asset Management LLC purchased a new stake in TransAlta in the 1st quarter worth $2,007,000. Finally, Fiera Capital Corp purchased a new stake in TransAlta in the 1st quarter worth $3,016,000. Hedge funds and other institutional investors own 49.96% of the company’s stock.
TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.
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