TransAlta (TAC) Sets New 1-Year High and Low at $4.95

TransAlta (NYSE:TAC) (TSE:TA)’s share price hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $4.95 and last traded at $5.00, with a volume of 2640 shares traded. The stock had previously closed at $5.05.

A number of equities analysts recently issued reports on TAC shares. Scotiabank upgraded TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, February 28th. ValuEngine upgraded TransAlta from a “sell” rating to a “hold” rating in a research note on Wednesday, February 28th. Zacks Investment Research upgraded TransAlta from a “sell” rating to a “hold” rating in a research note on Tuesday, March 13th. Canaccord Genuity restated a “hold” rating on shares of TransAlta in a research note on Friday, May 4th. Finally, TD Securities started coverage on TransAlta in a research note on Friday, May 25th. They issued a “hold” rating for the company. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $7.00.

The company has a market capitalization of $1.46 billion, a PE ratio of -27.61 and a beta of 0.59. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.60 and a quick ratio of 1.35.

TransAlta (NYSE:TAC) (TSE:TA) last issued its earnings results on Tuesday, May 8th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.11. The company had revenue of $465.20 million during the quarter, compared to analyst estimates of $476.51 million. TransAlta had a positive return on equity of 0.19% and a negative net margin of 4.55%. analysts forecast that TransAlta will post 0.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Friday, June 1st will be given a dividend of $0.031 per share. This represents a $0.12 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, May 31st. TransAlta’s dividend payout ratio is currently -66.67%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Suntrust Banks Inc. acquired a new stake in TransAlta during the 1st quarter worth about $182,000. Royal Bank of Canada grew its position in TransAlta by 6.4% during the 1st quarter. Royal Bank of Canada now owns 37,682,319 shares of the utilities provider’s stock worth $205,370,000 after purchasing an additional 2,279,804 shares during the period. Cubist Systematic Strategies LLC grew its position in TransAlta by 214.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 43,091 shares of the utilities provider’s stock worth $233,000 after purchasing an additional 29,377 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its position in TransAlta by 20.5% during the 1st quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 4,754,001 shares of the utilities provider’s stock worth $25,738,000 after purchasing an additional 807,167 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in TransAlta during the 1st quarter worth about $344,000. 54.15% of the stock is currently owned by institutional investors.

TransAlta Company Profile

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.

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