Artemis Investment Management LLP Buys 437,511 Shares of TransAlta Corporation (NYSE:TAC)

Artemis Investment Management LLP lifted its position in shares of TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 86.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 942,962 shares of the utilities provider's stock after purchasing an additional 437,511 shares during the period. Artemis Investment Management LLP owned 0.32% of TransAlta worth $8,802,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TAC. NBC Securities Inc. increased its stake in shares of TransAlta by 145,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,914 shares of the utilities provider's stock worth $27,000 after purchasing an additional 2,912 shares during the last quarter. Tobam grew its stake in TransAlta by 239.2% in the 1st quarter. Tobam now owns 10,943 shares of the utilities provider's stock valued at $102,000 after buying an additional 7,717 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new position in TransAlta in the 4th quarter valued at about $147,000. Private Advisor Group LLC acquired a new position in TransAlta in the 4th quarter valued at about $150,000. Finally, Sage Investment Counsel LLC acquired a new position in TransAlta in the 4th quarter valued at about $156,000. 59.00% of the stock is currently owned by institutional investors and hedge funds.

TransAlta Trading Down 0.3%

NYSE TAC traded down $0.04 on Friday, hitting $10.68. The company's stock had a trading volume of 1,211,044 shares, compared to its average volume of 1,271,678. The company has a quick ratio of 0.78, a current ratio of 0.84 and a debt-to-equity ratio of 4.19. TransAlta Corporation has a 1-year low of $6.78 and a 1-year high of $14.64. The company's 50-day moving average is $9.73 and its 200 day moving average is $10.66. The firm has a market cap of $3.16 billion, a PE ratio of -533.48 and a beta of 0.74.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.02). TransAlta had a negative return on equity of 1.64% and a net margin of 0.01%. The firm had revenue of $526.69 million for the quarter, compared to analyst estimates of $509.31 million. As a group, analysts predict that TransAlta Corporation will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TAC has been the topic of a number of research reports. Royal Bank Of Canada decreased their price target on shares of TransAlta from $23.00 to $20.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. Wall Street Zen upgraded shares of TransAlta from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Jefferies Financial Group upgraded shares of TransAlta from a "hold" rating to a "buy" rating in a research note on Thursday, June 12th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.75.

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.