Louisbourg Investments Inc. Has $2.50 Million Stock Holdings in TransAlta Co. (NYSE:TAC)

Louisbourg Investments Inc. boosted its stake in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 267,100 shares of the utilities provider's stock after purchasing an additional 23,800 shares during the quarter. Louisbourg Investments Inc. owned about 0.09% of TransAlta worth $2,495,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of TAC. Connor Clark & Lunn Investment Management Ltd. grew its holdings in TransAlta by 638.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,995,489 shares of the utilities provider's stock worth $112,936,000 after purchasing an additional 6,913,431 shares during the period. Artisan Partners Limited Partnership acquired a new stake in TransAlta in the fourth quarter worth $67,038,000. American Century Companies Inc. grew its holdings in shares of TransAlta by 512.0% during the fourth quarter. American Century Companies Inc. now owns 4,870,226 shares of the utilities provider's stock valued at $68,880,000 after buying an additional 4,074,395 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of TransAlta by 280.1% during the fourth quarter. Bank of America Corp DE now owns 5,385,966 shares of the utilities provider's stock valued at $76,211,000 after buying an additional 3,969,037 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of TransAlta by 79.7% during the fourth quarter. FMR LLC now owns 8,255,923 shares of the utilities provider's stock valued at $116,764,000 after buying an additional 3,662,900 shares during the last quarter. 59.00% of the stock is currently owned by institutional investors and hedge funds.

TransAlta Stock Up 3.5%

TransAlta stock opened at $11.48 on Tuesday. TransAlta Co. has a fifty-two week low of $6.78 and a fifty-two week high of $14.64. The stock has a market cap of $3.40 billion, a PE ratio of 27.99 and a beta of 0.74. The firm's 50-day simple moving average is $9.30 and its 200 day simple moving average is $10.76. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last released its quarterly earnings results 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 return on equity of 18.47% and a net margin of 6.38%. The firm had revenue of $526.69 million for the quarter, compared to analysts' expectations of $509.31 million. Research analysts predict that TransAlta Co. will post 0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TAC. Royal Bank of Canada reduced their price objective on shares of TransAlta from $23.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, May 8th. CIBC upgraded shares of TransAlta from a "neutral" rating to an "outperformer" rating and reduced their price objective for the company from $23.00 to $19.50 in a report on Tuesday, February 18th. Jefferies Financial Group upgraded shares of TransAlta from a "hold" rating to a "buy" rating in a report on Thursday, June 12th. Wall Street Zen upgraded shares of TransAlta from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Cibc World Mkts upgraded shares of TransAlta from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.

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