TransAlta Corporation (NYSE:TAC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) have earned an average rating of “Moderate Buy” from the nine brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $24.50.

A number of brokerages have issued reports on TAC. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TransAlta in a research note on Friday, July 17th. TD Securities reissued a “buy” rating on shares of TransAlta in a research report on Thursday, May 7th. BMO Capital Markets restated an “outperform” rating on shares of TransAlta in a research note on Monday. Zacks Research downgraded TransAlta from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Finally, TD Cowen began coverage on TransAlta in a report on Wednesday, June 10th. They set a “buy” rating for the company.

TransAlta Stock Performance

Shares of TAC stock opened at $12.68 on Thursday. The company has a market capitalization of $4.01 billion, a price-to-earnings ratio of -70.41 and a beta of 0.70. TransAlta has a 1-year low of $11.38 and a 1-year high of $17.88. The company has a current ratio of 0.84, a quick ratio of 0.70 and a debt-to-equity ratio of 3.64. The stock’s fifty day simple moving average is $13.53 and its 200-day simple moving average is $13.19.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. TransAlta had a positive return on equity of 8.85% and a negative net margin of 2.76%.The firm had revenue of $342.85 million during the quarter, compared to the consensus estimate of $379.54 million. On average, sell-side analysts predict that TransAlta will post 0.17 earnings per share for the current fiscal year.

TransAlta Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.07 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.28 dividend on an annualized basis and a yield of 2.2%. TransAlta’s payout ratio is -111.11%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new stake in TransAlta in the fourth quarter worth $37,000. EverSource Wealth Advisors LLC lifted its position in shares of TransAlta by 37.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock worth $38,000 after buying an additional 812 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of TransAlta in the fourth quarter worth about $50,000. Warren Street Wealth Advisors LLC bought a new stake in shares of TransAlta during the 4th quarter worth about $129,000. Finally, Ritter Alpha LP bought a new stake in shares of TransAlta during the 4th quarter worth about $131,000. Institutional investors own 59.00% of the company’s stock.

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.