TransAlta (NYSE:TAC) Downgraded to “Buy” at StockNews.com

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Wednesday.

TransAlta Stock Performance

NYSE:TAC opened at $10.49 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 0.75 and a current ratio of 0.84. The stock has a market capitalization of $3.17 billion, a PE ratio of 6.77 and a beta of 0.91. TransAlta has a fifty-two week low of $5.94 and a fifty-two week high of $10.51. The company has a fifty day moving average of $8.56 and a two-hundred day moving average of $7.43.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.08. TransAlta had a net margin of 18.41% and a return on equity of 47.71%. The firm had revenue of $425.37 million during the quarter. During the same quarter last year, the company earned $0.17 EPS. As a group, research analysts forecast that TransAlta will post 0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NBC Securities Inc. grew its holdings in shares of TransAlta by 156.3% during the first quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock worth $26,000 after buying an additional 2,500 shares in the last quarter. Clayton Partners LLC boosted its position in TransAlta by 15.7% during the fourth quarter. Clayton Partners LLC now owns 18,546 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 2,517 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in TransAlta by 2.3% during the 1st quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 148,300 shares of the utilities provider’s stock valued at $951,000 after acquiring an additional 3,375 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in TransAlta by 50.3% in the 4th quarter. 1832 Asset Management L.P. now owns 11,576 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 3,876 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 3,951 shares in the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

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.