Louisbourg Investments Inc. Buys 23,800 Shares of TransAlta Corporation (NYSE:TAC)

Louisbourg Investments Inc. grew its holdings in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 9.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund 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 filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. NBC Securities Inc. boosted its stake in TransAlta by 145,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,914 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 2,912 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of TransAlta during the fourth quarter worth approximately $147,000. Private Advisor Group LLC bought a new stake in shares of TransAlta in the fourth quarter valued at approximately $150,000. Tobam grew its stake in shares of TransAlta by 239.2% in the first quarter. Tobam now owns 10,943 shares of the utilities provider's stock worth $102,000 after acquiring an additional 7,717 shares during the last quarter. Finally, Sage Investment Counsel LLC acquired a new stake in shares of TransAlta in the fourth quarter worth $156,000. 59.00% of the stock is owned by institutional investors and hedge funds.

TransAlta Stock Performance

Shares of NYSE TAC traded down $0.38 during trading hours on Friday, reaching $11.00. The stock had a trading volume of 2,746,517 shares, compared to its average volume of 1,723,795. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -549.93 and a beta of 0.74. TransAlta Corporation has a twelve month low of $6.78 and a twelve month high of $14.64. The business's fifty day moving average is $9.46 and its two-hundred day moving average is $10.77. 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 announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $526.69 million during the quarter, compared to analyst estimates of $509.31 million. TransAlta had a net margin of 0.01% and a negative return on equity of 1.64%. As a group, research analysts expect that TransAlta Corporation will post 0.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TAC. Royal Bank Of Canada cut their target price on shares of TransAlta from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Wall Street Zen raised shares of TransAlta from a "sell" rating to a "hold" rating in a research report 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 research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $19.75.

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.