TransAlta Corporation (NYSE:TAC) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) have earned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.8750.

Several analysts recently weighed in on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of TransAlta in a research note on Monday, October 20th. Zacks Research upgraded shares of TransAlta from a “strong sell” rating to a “hold” rating in a research note on Friday, December 5th. Natl Bk Canada downgraded shares of TransAlta from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 3rd. TD Securities restated a “buy” rating on shares of TransAlta in a research report on Wednesday, December 10th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of TransAlta in a research note on Wednesday, January 21st.

Institutional Investors Weigh In On TransAlta

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in shares of TransAlta by 37.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 812 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in TransAlta in the fourth quarter valued at $50,000. Savant Capital LLC bought a new position in TransAlta during the 2nd quarter worth $127,000. Warren Street Wealth Advisors LLC bought a new position in TransAlta during the 4th quarter worth $129,000. Finally, Sage Rhino Capital LLC acquired a new position in TransAlta during the 3rd quarter worth about $139,000. 59.00% of the stock is currently owned by institutional investors and hedge funds.

TransAlta Stock Performance

Shares of NYSE:TAC opened at $13.61 on Thursday. TransAlta has a 1 year low of $7.82 and a 1 year high of $17.88. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of -28.35 and a beta of 0.78. The company has a debt-to-equity ratio of 5.22, a current ratio of 0.79 and a quick ratio of 0.71. The company’s 50 day simple moving average is $13.03 and its 200 day simple moving average is $13.68.

TransAlta Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Sunday, March 1st will be paid a $0.065 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $0.26 annualized dividend and a dividend yield of 1.9%. TransAlta’s dividend payout ratio is currently -39.58%.

About TransAlta

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.