TransAlta Co. (NYSE:TAC) Shares Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. lifted its holdings in shares of TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 65.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 82,850 shares of the utilities provider's stock after purchasing an additional 32,850 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in TransAlta were worth $1,171,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tobam acquired a new stake in TransAlta during the 4th quarter worth approximately $46,000. Ballentine Partners LLC purchased a new stake in shares of TransAlta during the fourth quarter worth $145,000. Orion Portfolio Solutions LLC purchased a new stake in shares of TransAlta during the fourth quarter worth $147,000. Private Advisor Group LLC acquired a new stake in shares of TransAlta in the fourth quarter valued at $150,000. Finally, Sage Investment Counsel LLC purchased a new position in TransAlta in the fourth quarter valued at $156,000. Hedge funds and other institutional investors own 59.00% of the company's stock.

TransAlta Stock Up 0.6%

Shares of NYSE TAC traded up $0.06 during midday trading on Thursday, hitting $9.72. 1,790,426 shares of the company's stock were exchanged, compared to its average volume of 1,176,134. The firm's fifty day simple moving average is $8.95 and its 200-day simple moving average is $10.77. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. The company has a market cap of $2.88 billion, a PE ratio of 23.70 and a beta of 0.71. TransAlta Co. has a twelve month low of $6.78 and a twelve month high of $14.64.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates 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. Research analysts predict that TransAlta Co. will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded TransAlta from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Royal Bank of Canada reduced their target price 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. Cibc World Mkts upgraded shares of TransAlta from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. CIBC raised shares of TransAlta from a "neutral" rating to an "outperformer" rating and dropped their price objective for the company from $23.00 to $19.50 in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group assumed coverage on shares of TransAlta in a report on Friday, April 11th. They issued a "hold" rating on the stock. Four equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.