DekaBank Deutsche Girozentrale Acquires Shares of 24,268 TransAlta Co. (NYSE:TAC)

DekaBank Deutsche Girozentrale bought a new position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) during the fourth quarter, Holdings Channel.com reports. The firm bought 24,268 shares of the utilities provider’s stock, valued at approximately $198,000.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC bought a new position in TransAlta in the 3rd quarter worth approximately $33,000. Tower Research Capital LLC TRC boosted its position in TransAlta by 234.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,367 shares of the utilities provider’s stock valued at $38,000 after buying an additional 3,062 shares during the last quarter. 1832 Asset Management L.P. increased its stake 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 buying an additional 3,326 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of TransAlta during the third quarter worth $88,000. Finally, Deutsche Bank AG acquired a new position in shares of TransAlta during the fourth quarter valued at $90,000. 59.00% of the stock is owned by institutional investors.

TransAlta Stock Up 0.3 %

Shares of NYSE:TAC opened at $6.12 on Wednesday. The company has a 50 day moving average of $6.64 and a 200-day moving average of $7.50. TransAlta Co. has a one year low of $5.94 and a one year high of $10.40. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 3.34 and a beta of 0.83. The company has a debt-to-equity ratio of 4.06, a current ratio of 0.91 and a quick ratio of 0.82.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Friday, February 23rd. The utilities provider reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.30). The business had revenue of $624.00 million for the quarter, compared to analyst estimates of $305.79 million. TransAlta had a return on equity of 48.42% and a net margin of 20.05%. TransAlta’s revenue was down 26.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.45) EPS. On average, sell-side analysts forecast that TransAlta Co. will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 12th.

TransAlta Profile

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.