TransAlta (NYSE:TAC) Downgraded to “Buy” at StockNews.com

StockNews.com downgraded shares of TransAlta (NYSE:TAC) (TSE:TA) from a strong-buy rating to a buy rating in a research report report published on Monday.

TransAlta Trading Up 1.0 %

Shares of NYSE:TAC opened at $9.21 on Monday. The company’s 50-day moving average price is $8.13 and its two-hundred day moving average price is $7.27. TransAlta has a one year low of $5.94 and a one year high of $9.41. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75. The stock has a market capitalization of $2.79 billion, a PE ratio of 5.94 and a beta of 0.91.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.08. The business had revenue of $425.37 million for the quarter. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. During the same quarter in the previous year, the company posted $0.17 EPS. On average, equities analysts forecast that TransAlta will post 0.75 EPS for the current fiscal year.

TransAlta Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 1st will be given a dividend of $0.044 per share. This is a positive change from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.18 annualized dividend and a yield of 1.91%. The ex-dividend date is Friday, August 30th. TransAlta’s dividend payout ratio is 10.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NBC Securities Inc. lifted its stake in TransAlta by 156.3% in the 1st quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 2,500 shares during the last quarter. Blue Trust Inc. lifted its position in shares of TransAlta by 1,381.5% in the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after buying an additional 3,951 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in shares of TransAlta during the 4th quarter worth approximately $33,000. Mather Group LLC. acquired a new position in shares of TransAlta during the 2nd quarter worth approximately $64,000. Finally, Janney Montgomery Scott LLC bought a new stake in TransAlta in the 1st quarter valued at $66,000. Institutional investors own 59.00% of the company’s stock.

TransAlta Company 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.