Corient Capital Partners LLC Purchases Shares of 12,473 TransAlta Co. (NYSE:TAC)

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Corient Capital Partners LLC purchased a new stake in TransAlta Co. (NYSE:TAC) (TSE:TA) during the third quarter, according to its most recent filing with the SEC. The fund purchased 12,473 shares of the utilities provider’s stock, valued at approximately $81,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in TransAlta by 727.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,644 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 6,720 shares during the last quarter. CIBC Asset Management Inc increased its holdings in TransAlta by 13.1% in the 3rd quarter. CIBC Asset Management Inc now owns 16,773,825 shares of the utilities provider’s stock valued at $109,151,000 after acquiring an additional 1,938,389 shares during the last quarter. Royal Bank of Canada increased its holdings in TransAlta by 3.9% in the 2nd quarter. Royal Bank of Canada now owns 42,437,604 shares of the utilities provider’s stock valued at $276,275,000 after acquiring an additional 1,586,525 shares during the last quarter. Jane Street Group LLC bought a new stake in TransAlta in the 2nd quarter valued at $80,000. Finally, Citadel Advisors LLC increased its holdings in TransAlta by 198.7% in the 2nd quarter. Citadel Advisors LLC now owns 242,940 shares of the utilities provider’s stock valued at $1,582,000 after acquiring an additional 161,616 shares during the last quarter. Institutional investors own 49.67% of the company’s stock.

A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of TransAlta from a “sell” rating to a “hold” rating in a report on Thursday. CIBC reiterated a “hold” rating and issued a $9.50 price target on shares of TransAlta in a report on Wednesday, October 23rd. Scotiabank set a $11.00 price objective on shares of TransAlta and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Credit Suisse Group reissued a “hold” rating and issued a $10.00 price objective on shares of TransAlta in a research note on Thursday, September 19th. Finally, ValuEngine cut shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $9.31.

Shares of NYSE:TAC opened at $6.75 on Monday. TransAlta Co. has a 52 week low of $3.99 and a 52 week high of $7.61. The stock has a market capitalization of $1.90 billion, a P/E ratio of -12.74 and a beta of 1.17. The firm has a fifty day simple moving average of $6.24 and a two-hundred day simple moving average of $6.37. The company has a quick ratio of 1.69, a current ratio of 2.02 and a debt-to-equity ratio of 0.94.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Monday, December 2nd will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.78%. TransAlta’s payout ratio is currently -22.64%.

About TransAlta

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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