99,595 Shares in TransAlta Corporation $TAC Bought by Capital Innovations LLC

Capital Innovations LLC bought a new position in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 99,595 shares of the utilities provider’s stock, valued at approximately $1,259,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in shares of TransAlta by 37.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 812 shares in the last quarter. Pictet Asset Management Holding SA raised its stake in shares of TransAlta by 1.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 48,926 shares of the utilities provider’s stock valued at $620,000 after acquiring an additional 893 shares in the last quarter. Creative Planning lifted its holdings in TransAlta by 2.0% in the 3rd quarter. Creative Planning now owns 52,339 shares of the utilities provider’s stock worth $715,000 after purchasing an additional 1,003 shares during the last quarter. Savant Capital LLC lifted its holdings in TransAlta by 10.4% in the 4th quarter. Savant Capital LLC now owns 16,568 shares of the utilities provider’s stock worth $209,000 after purchasing an additional 1,566 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in TransAlta by 5.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 34,051 shares of the utilities provider’s stock worth $464,000 after purchasing an additional 1,827 shares during the period. Institutional investors and hedge funds own 59.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on TAC. BMO Capital Markets reiterated an “outperform” rating on shares of TransAlta in a report on Thursday, May 7th. National Bank Financial raised shares of TransAlta from a “sector perform” rating to an “outperform” rating in a report on Tuesday, March 24th. TD Securities reiterated a “buy” rating on shares of TransAlta in a research note on Thursday, May 7th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of TransAlta in a report on Tuesday, March 24th. Finally, Weiss Ratings lowered shares of TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.33.

TransAlta Stock Up 1.2%

Shares of TAC opened at $14.33 on Wednesday. The company has a 50-day simple moving average of $13.06 and a 200-day simple moving average of $13.18. The company has a debt-to-equity ratio of 6.61, a quick ratio of 0.70 and a current ratio of 0.76. TransAlta Corporation has a 52 week low of $9.93 and a 52 week high of $17.88. The firm has a market capitalization of $4.27 billion, a P/E ratio of -26.53 and a beta of 0.69.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $406.19 million for the quarter, compared to analysts’ expectations of $436.36 million. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%. On average, equities research analysts expect that TransAlta Corporation will post 0.26 earnings per share for the current year.

TransAlta Profile

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.