Tidal Investments LLC Makes New Investment in TransAlta Co. (NYSE:TAC)

Tidal Investments LLC acquired a new position in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 35,134 shares of the utilities provider's stock, valued at approximately $497,000.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC raised its stake in TransAlta by 5.4% during the 4th quarter. Signaturefd LLC now owns 27,627 shares of the utilities provider's stock valued at $391,000 after buying an additional 1,420 shares during the last quarter. Tobam purchased a new stake in TransAlta during the 4th quarter valued at $46,000. Geode Capital Management LLC raised its stake in TransAlta by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 126,761 shares of the utilities provider's stock valued at $1,811,000 after buying an additional 4,140 shares during the last quarter. Barclays PLC raised its stake in TransAlta by 3.2% during the 4th quarter. Barclays PLC now owns 147,703 shares of the utilities provider's stock valued at $2,090,000 after buying an additional 4,641 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its stake in TransAlta by 7.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 73,942 shares of the utilities provider's stock valued at $1,041,000 after buying an additional 5,168 shares during the last quarter. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TAC has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of TransAlta in a research note on Friday, April 11th. They set a "hold" rating for the company. Cibc World Mkts raised shares of TransAlta from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Wall Street Zen lowered shares of TransAlta from a "buy" rating to a "hold" rating in a report on Friday, February 21st. CIBC raised shares of TransAlta from a "neutral" rating to an "outperformer" rating and cut their price target for the stock from $23.00 to $19.50 in a report on Tuesday, February 18th. Finally, Royal Bank of Canada cut their price target on shares of TransAlta from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

TransAlta Stock Performance

Shares of NYSE:TAC traded up $0.13 on Monday, hitting $9.89. 1,108,587 shares of the company were exchanged, compared to its average volume of 1,185,402. TransAlta Co. has a 1-year low of $6.78 and a 1-year high of $14.64. The stock's 50 day moving average price is $8.96 and its 200 day moving average price is $10.77. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The firm has a market capitalization of $2.93 billion, a P/E ratio of 24.12 and a beta of 0.71.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last posted its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.07 EPS 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 company had revenue of $526.69 million for the quarter, compared to analyst estimates of $509.31 million. Sell-side analysts predict that TransAlta Co. will post 0.41 EPS for the current year.

TransAlta Company 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.