CenterBook Partners LP Raises Stock Holdings in TransAlta Corporation $TAC

CenterBook Partners LP boosted its holdings in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) by 401.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 377,942 shares of the utilities provider’s stock after purchasing an additional 302,570 shares during the period. CenterBook Partners LP’s holdings in TransAlta were worth $4,777,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in TransAlta by 37.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 812 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of TransAlta in the fourth quarter valued at approximately $50,000. Warren Street Wealth Advisors LLC purchased a new position in shares of TransAlta in the fourth quarter valued at approximately $129,000. Orion Porfolio Solutions LLC purchased a new position in shares of TransAlta in the second quarter valued at approximately $159,000. Finally, Swiss Life Asset Management Ltd purchased a new position in shares of TransAlta in the third quarter valued at approximately $176,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Stock Performance

Shares of TransAlta stock opened at $12.51 on Tuesday. TransAlta Corporation has a one year low of $10.22 and a one year high of $17.88. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -23.16 and a beta of 0.69. The company has a debt-to-equity ratio of 6.61, a quick ratio of 0.70 and a current ratio of 0.76. The business’s 50 day moving average price is $13.15 and its 200 day moving average price is $13.13.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%.The firm had revenue of $406.19 million for the quarter, compared to the consensus estimate of $436.36 million. On average, research analysts predict that TransAlta Corporation will post 0.26 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TAC shares. TD Securities restated a “buy” rating on shares of TransAlta in a research report on Thursday, May 7th. National Bank Financial upgraded TransAlta from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, March 24th. BMO Capital Markets restated an “outperform” rating on shares of TransAlta in a research report on Thursday, May 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $24.00 target price on shares of TransAlta in a research report on Tuesday, March 24th. Finally, Weiss Ratings downgraded TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.33.

TransAlta 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.