3,581,371 Shares in TransAlta Corporation $TAC Bought by Norges Bank

Norges Bank acquired a new position in shares of TransAlta Corporation (NYSE:TAC – Free Report) (TSE:TA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,581,371 shares of the utilities provider’s stock, valued at approximately $45,298,000. Norges Bank owned 1.21% of TransAlta as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its stake in shares of TransAlta by 37.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 812 shares during the period. Pictet Asset Management Holding SA grew its holdings in TransAlta by 1.9% during the fourth quarter. Pictet Asset Management Holding SA now owns 48,926 shares of the utilities provider’s stock valued at $620,000 after purchasing an additional 893 shares during the period. Creative Planning grew its holdings in TransAlta by 2.0% during the third quarter. Creative Planning now owns 52,339 shares of the utilities provider’s stock valued at $715,000 after purchasing an additional 1,003 shares during the period. Savant Capital LLC grew its holdings in TransAlta by 10.4% during the fourth quarter. Savant Capital LLC now owns 16,568 shares of the utilities provider’s stock valued at $209,000 after purchasing an additional 1,566 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its holdings in TransAlta by 5.7% during the third quarter. CANADA LIFE ASSURANCE Co now owns 34,051 shares of the utilities provider’s stock valued at $464,000 after purchasing an additional 1,827 shares during the period. 59.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TAC has been the subject of a number of analyst reports. TD Securities restated a “buy” rating on shares of TransAlta in a report on Thursday, May 7th. National Bank Financial raised TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, March 24th. Weiss Ratings cut TransAlta from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, May 7th. Royal Bank Of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of TransAlta in a research note on Tuesday, March 24th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of TransAlta in a report on Thursday, April 16th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Get Our Latest Report on TAC

TransAlta Stock Down 1.4%

TAC stock opened at $12.51 on Tuesday. The company has a debt-to-equity ratio of 6.61, a current ratio of 0.76 and a quick ratio of 0.70. The stock has a market capitalization of $3.72 billion, a P/E ratio of -23.16 and a beta of 0.69. The business has a 50-day moving average of $13.15 and a 200-day moving average of $13.13. TransAlta Corporation has a fifty-two week low of $10.22 and a fifty-two week high of $17.88.

TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.03. The company had revenue of $406.19 million during the quarter, compared to analysts’ expectations of $436.36 million. TransAlta had a positive return on equity of 9.52% and a negative net margin of 9.46%. On average, sell-side analysts anticipate that TransAlta Corporation will post 0.26 earnings per share for the current fiscal year.

TransAlta Company Profile

(Free Report)

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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