StockNews.com Lowers TransAlta (NYSE:TAC) to Buy

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

TransAlta Stock Up 2.4 %

TAC stock opened at $9.43 on Monday. The firm has a market cap of $2.85 billion, a PE ratio of 6.08 and a beta of 0.91. TransAlta has a 12 month low of $5.94 and a 12 month high of $9.45. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75. The firm has a 50 day simple moving average of $8.19 and a 200 day simple moving average of $7.28.

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

Institutional Investors Weigh In On TransAlta

A number of large investors have recently made changes to their positions in TAC. NBC Securities Inc. boosted its stake in TransAlta by 156.3% in the 1st quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 2,500 shares during the period. Blue Trust Inc. grew its holdings in shares of TransAlta by 1,381.5% during the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after buying an additional 3,951 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in TransAlta during the fourth quarter valued at $33,000. Mather Group LLC. purchased a new stake in TransAlta in the 2nd quarter worth about $64,000. Finally, Janney Montgomery Scott LLC acquired a new stake in TransAlta during the 1st quarter worth about $66,000. Institutional investors and hedge funds 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.