Bank of Nova Scotia grew its holdings in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 23.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,338,554 shares of the utilities provider's stock after acquiring an additional 257,356 shares during the period. Bank of Nova Scotia owned about 0.45% of TransAlta worth $17,595,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new stake in TransAlta in the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of TransAlta by 37.1% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider's stock worth $38,000 after acquiring an additional 812 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of TransAlta during the 4th quarter valued at approximately $50,000. Warren Street Wealth Advisors LLC purchased a new position in shares of TransAlta in the fourth quarter valued at $129,000. Finally, Ritter Alpha LP bought a new stake in TransAlta in the fourth quarter worth $131,000. Institutional investors own 59.00% of the company's stock.
TransAlta Price Performance
Shares of TAC stock opened at $13.70 on Friday. The stock has a 50 day moving average price of $13.63 and a 200 day moving average price of $13.17. TransAlta Corporation has a 52-week low of $11.38 and a 52-week high of $17.88. The company has a debt-to-equity ratio of 6.61, a quick ratio of 0.70 and a current ratio of 0.76. The firm has a market capitalization of $4.33 billion, a P/E ratio of -25.36 and a beta of 0.69.
TransAlta (NYSE:TAC - Get Free Report) TSE: TA last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%.The company had revenue of $406.19 million for the quarter, compared to the consensus estimate of $436.36 million. As a group, sell-side analysts predict that TransAlta Corporation will post 0.17 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have commented on TAC shares. Weiss Ratings raised shares of TransAlta from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, June 16th. BMO Capital Markets assumed coverage on TransAlta in a research note on Wednesday, June 10th. They set an "outperform" rating on the stock. TD Cowen started coverage on TransAlta in a research note on Wednesday, June 10th. They issued a "buy" rating for the company. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of TransAlta in a research report on Friday, July 17th. Finally, Zacks Research lowered TransAlta from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.00.
View Our Latest Report on TAC
About TransAlta
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding TAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider TransAlta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TransAlta wasn't on the list.
While TransAlta currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we’ll send you MarketBeat’s list of ten stocks set to soar in Summer 2026, despite the threat of tariffs and what's happening in Iran. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
