TransAlta (NYSE:TAC) Stock Price Up 2.6%

TransAlta Co. (NYSE:TACGet Rating) (TSE:TA) shares rose 2.6% during mid-day trading on Friday . The stock traded as high as $9.37 and last traded at $9.35. Approximately 7,189 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 364,367 shares. The stock had previously closed at $9.11.

Analyst Ratings Changes

TAC has been the topic of several research analyst reports. TheStreet cut shares of TransAlta from a “c-” rating to a “d+” rating in a research report on Wednesday, August 17th. StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.44.

TransAlta Trading Up 3.1 %

The business’s 50-day moving average price is $10.35 and its 200 day moving average price is $10.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.12 and a quick ratio of 1.06. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of -7.39 and a beta of 1.02.

TransAlta (NYSE:TACGet Rating) (TSE:TA) last posted its earnings results on Friday, August 5th. The utilities provider reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.48). TransAlta had a positive return on equity of 9.86% and a negative net margin of 15.45%. The firm had revenue of $461.00 million for the quarter, compared to analyst estimates of $449.56 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue for the quarter was down 26.0% on a year-over-year basis. On average, equities analysts forecast that TransAlta Co. will post 0.54 earnings per share for the current fiscal year.

TransAlta Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 1st will be given a dividend of $0.0388 per share. The ex-dividend date is Wednesday, August 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.65%. TransAlta’s payout ratio is currently -11.81%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new stake in shares of TransAlta in the second quarter worth $54,000. 1832 Asset Management L.P. increased its stake in shares of TransAlta by 153.2% in the first quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock worth $56,000 after buying an additional 3,326 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of TransAlta in the fourth quarter worth $66,000. Bank of Nova Scotia Trust Co. bought a new stake in shares of TransAlta in the first quarter worth $105,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of TransAlta by 1,722.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 9,658 shares of the utilities provider’s stock worth $107,000 after buying an additional 9,128 shares during the last quarter. 62.72% of the stock is owned by institutional investors and hedge funds.

TransAlta Company Profile

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TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through four segments: Hydro, Wind and Solar, Gas, and Energy Transition. owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

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