Sculptor Capital LP decreased its stake in TransAlta Corporation (NYSE:TAC – Free Report) (TSE:TA) by 82.2% during the 1st quarter, HoldingsChannel reports. The firm owned 533,600 shares of the utilities provider’s stock after selling 2,466,400 shares during the period. Sculptor Capital LP’s holdings in TransAlta were worth $7,004,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new position in TransAlta during the 4th quarter worth $37,000. EverSource Wealth Advisors LLC lifted its stake in TransAlta by 37.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock valued at $38,000 after buying an additional 812 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in TransAlta in the fourth quarter valued at $50,000. Warren Street Wealth Advisors LLC acquired a new position in shares of TransAlta during the fourth quarter valued at $129,000. Finally, Ritter Alpha LP acquired a new position in shares of TransAlta during the fourth quarter valued at $131,000. Institutional investors and hedge funds own 59.00% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on TAC shares. TD Securities reaffirmed a “buy” rating on shares of TransAlta in a report on Thursday, May 7th. BMO Capital Markets initiated coverage on shares of TransAlta in a research note on Wednesday, June 10th. They set an “outperform” rating for the company. TD Cowen started coverage on shares of TransAlta in a research report on Wednesday, June 10th. They issued a “buy” rating for the company. Weiss Ratings upgraded shares of TransAlta from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, June 16th. Finally, Zacks Research lowered shares of TransAlta from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.
TransAlta Trading Down 0.2%
Shares of TAC stock opened at $13.70 on Monday. TransAlta Corporation has a 1 year low of $11.38 and a 1 year high of $17.88. The firm has a market capitalization of $4.33 billion, a PE ratio of -25.36 and a beta of 0.69. The stock has a fifty day moving average of $13.63 and a two-hundred day moving average of $13.17. 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 (NYSE:TAC – Get Free Report) (TSE:TA) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. The company had revenue of $406.19 million for the quarter, compared to analyst estimates of $436.36 million. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%. As a group, research analysts expect that TransAlta Corporation will post 0.17 EPS for the current year.
TransAlta Company 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.
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