Value Aligned Research Advisors LLC Acquires New Position in TransAlta Corporation $TAC

Key Points

• Value Aligned Research Advisors LLC acquired 2.6 million TransAlta shares worth about $34.1 million, representing approximately 0.87% of the company. Institutional investors collectively own 59% of TransAlta.
• TransAlta’s stock was trading at $12.76, down 5.1%, while the company reported quarterly EPS of $0.04—beating estimates—but revenue of $406.2 million came in below expectations.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $23, despite one recent downgrade to “Strong Sell.”

Value Aligned Research Advisors LLC bought a new position in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA in the first quarter, according to its most recent filing with the SEC. The firm bought 2,596,273 shares of the utilities provider's stock, valued at approximately $34,128,000. Value Aligned Research Advisors LLC owned approximately 0.87% of TransAlta as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TAC. Caitong International Asset Management Co. Ltd acquired a new position in TransAlta during the 4th quarter valued at approximately $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of TransAlta by 37.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider's stock worth $38,000 after buying an additional 812 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of TransAlta during the fourth quarter worth $50,000. Warren Street Wealth Advisors LLC acquired a new stake in shares of TransAlta during the fourth quarter worth $129,000. Finally, Ritter Alpha LP purchased a new stake in shares of TransAlta during the fourth quarter valued at $131,000. Hedge funds and other institutional investors own 59.00% of the company's stock.

TransAlta Stock Down 5.1%

NYSE:TAC opened at $12.76 on Wednesday. The firm has a market capitalization of $4.03 billion, a P/E ratio of -23.64 and a beta of 0.69. TransAlta Corporation has a 1-year low of $11.38 and a 1-year high of $17.88. The company's fifty day moving average price is $13.65 and its 200-day moving average price is $13.18. The company has a debt-to-equity ratio of 6.61, a current ratio of 0.76 and a quick ratio of 0.70.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last issued its earnings results on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $406.19 million during the quarter, compared to analysts' expectations of $436.36 million. TransAlta had a negative net margin of 9.46% and a positive return on equity of 9.52%. As a group, equities research analysts anticipate that TransAlta Corporation will post 0.17 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TAC shares. TD Securities reissued a "buy" rating on shares of TransAlta in a research report on Thursday, May 7th. Scotiabank raised TransAlta to a "strong-buy" rating in a research report on Wednesday, June 10th. TD Cowen initiated coverage on TransAlta in a research note on Wednesday, June 10th. They set a "buy" rating on the stock. Weiss Ratings raised TransAlta from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, June 16th. Finally, Zacks Research lowered TransAlta from a "hold" rating to a "strong sell" rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, TransAlta currently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

TransAlta Profile

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company's core business activities encompass power generation, asset management and energy trading services.

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