Janney Montgomery Scott LLC Sells 246,116 Shares of TransAlta Corporation (NYSE:TAC)

Janney Montgomery Scott LLC lowered its position in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 94.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,141 shares of the utilities provider's stock after selling 246,116 shares during the period. Janney Montgomery Scott LLC's holdings in TransAlta were worth $123,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of TransAlta in the fourth quarter worth about $822,000. Wealth High Governance Capital Ltda purchased a new position in TransAlta during the 4th quarter valued at approximately $1,756,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in TransAlta by 638.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,995,489 shares of the utilities provider's stock valued at $112,936,000 after buying an additional 6,913,431 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in TransAlta during the 4th quarter valued at approximately $270,000. Finally, Corient Private Wealth LLC purchased a new position in TransAlta during the 4th quarter valued at approximately $209,000. Institutional investors own 59.00% of the company's stock.

Wall Street Analysts Forecast Growth

TAC has been the subject of several research analyst reports. Royal Bank Of Canada cut their price target on TransAlta from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. Jefferies Financial Group upgraded TransAlta from a "hold" rating to a "buy" rating in a report on Thursday, June 12th. Finally, Wall Street Zen upgraded TransAlta from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, TransAlta presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

TransAlta Trading Up 1.4%

Shares of NYSE:TAC traded up $0.15 during trading on Wednesday, hitting $10.57. The company had a trading volume of 758,791 shares, compared to its average volume of 1,280,021. The stock has a market cap of $3.13 billion, a price-to-earnings ratio of -528.24 and a beta of 0.76. TransAlta Corporation has a one year low of $6.78 and a one year high of $14.64. The company has a fifty day simple moving average of $10.03 and a two-hundred day simple moving average of $10.53. The company has a debt-to-equity ratio of 4.19, a current ratio of 0.84 and a quick ratio of 0.78.

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 (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $526.69 million during the quarter, compared to the consensus estimate of $509.31 million. TransAlta had a net margin of 0.01% and a negative return on equity of 1.64%. As a group, equities analysts forecast that TransAlta Corporation will post 0.41 earnings per share for the current year.

About TransAlta

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.