TransAlta Co. (NYSE:TAC) Receives Average Recommendation of “Hold” from Brokerages

TransAlta Co. (NYSE:TAC) (TSE:TA) has received a consensus recommendation of “Hold” from the six research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company.

A number of research firms have commented on TAC. Zacks Investment Research lowered shares of TransAlta from a “hold” rating to a “sell” rating in a report on Friday, August 16th. ValuEngine lowered shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 27th.

Hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC acquired a new position in shares of TransAlta in the fourth quarter worth about $195,000. Bank of America Corp DE grew its holdings in TransAlta by 20.1% in the 4th quarter. Bank of America Corp DE now owns 597,058 shares of the utilities provider’s stock worth $2,460,000 after buying an additional 100,001 shares in the last quarter. Millennium Management LLC bought a new position in TransAlta in the 4th quarter worth approximately $62,000. CIBC Asset Management Inc grew its holdings in TransAlta by 36.0% in the 1st quarter. CIBC Asset Management Inc now owns 13,864,917 shares of the utilities provider’s stock worth $101,883,000 after buying an additional 3,672,518 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. bought a new position in TransAlta in the 1st quarter worth approximately $1,525,000. 50.52% of the stock is owned by institutional investors.

TAC traded up $0.01 during trading on Thursday, reaching $6.48. 139,300 shares of the company’s stock were exchanged, compared to its average volume of 152,385. The company’s fifty day moving average price is $6.22 and its 200-day moving average price is $6.43. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.36 and a current ratio of 1.74. TransAlta has a fifty-two week low of $3.99 and a fifty-two week high of $7.61. The firm has a market capitalization of $1.86 billion, a PE ratio of -12.23 and a beta of 1.22.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Friday, August 9th. The utilities provider reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. TransAlta had a negative net margin of 9.91% and a negative return on equity of 6.16%. The firm had revenue of $371.56 million during the quarter. Research analysts forecast that TransAlta will post -0.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 3rd will be issued a $0.031 dividend. This is a positive change from TransAlta’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.12 annualized dividend and a dividend yield of 1.91%. TransAlta’s payout ratio is -22.64%.

About TransAlta

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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