Weekly Investment Analysts’ Ratings Updates for TransAlta (TAC)

TransAlta (NYSE: TAC) recently received a number of ratings updates from brokerages and research firms:

• 5/19/2022 – TransAlta was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 5/12/2022 – TransAlta was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $12.00 price target on the stock. According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “
• 5/10/2022 – TransAlta was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 5/9/2022 – TransAlta had its price target raised by analysts at National Bank Financial from C$14.00 to C$15.00.
• 4/30/2022 – TransAlta was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “
• 4/9/2022 – TransAlta was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $12.00 price target on the stock. According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “
• 3/31/2022 – TransAlta is now covered by analysts at StockNews.com. They set a “buy” rating on the stock.

Shares of TransAlta stock traded down $0.09 during trading hours on Tuesday, hitting $11.38. The company’s stock had a trading volume of 36,845 shares, compared to its average volume of 246,607. TransAlta Co. has a twelve month low of $8.98 and a twelve month high of $12.13. The firm has a fifty day moving average of $10.61 and a 200-day moving average of $10.57. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of -10.74 and a beta of 1.09. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.07 and a current ratio of 1.14.

TransAlta (NYSE:TAC – Get Rating) (TSE:TA) last posted its earnings results on Friday, May 6th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.36. TransAlta had a positive return on equity of 14.13% and a negative net margin of 12.08%. The firm had revenue of $580.27 million for the quarter, compared to analyst estimates of $536.65 million. During the same quarter in the prior year, the company earned ($0.02) EPS. On average, sell-side analysts expect that TransAlta Co. will post 0.64 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 1st will be given a $0.04 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $0.16 dividend on an annualized basis and a yield of 1.41%. This is a positive change from TransAlta’s previous quarterly dividend of $0.04. TransAlta’s dividend payout ratio (DPR) is currently -15.09%.

A number of hedge funds have recently bought and sold shares of the business. 1832 Asset Management L.P. increased its holdings in shares of TransAlta by 153.2% in the 1st quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 3,326 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of TransAlta in the 4th quarter valued at about $66,000. Lazard Asset Management LLC grew its stake in TransAlta by 157.6% during the 4th quarter. Lazard Asset Management LLC now owns 7,252 shares of the utilities provider’s stock worth $80,000 after buying an additional 4,437 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in TransAlta by 1,722.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 9,658 shares of the utilities provider’s stock worth $107,000 after buying an additional 9,128 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. purchased a new position in TransAlta during the 1st quarter worth approximately $105,000. 76.49% of the stock is currently owned by institutional investors.

TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through four segments: Hydro, Wind and Solar, Gas, and Energy Transition. owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

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