Pinnbrook Capital Management LP bought a new stake in shares of TransAlta Co. (NYSE:TAC – Free Report) (TSE:TA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 295,782 shares of the utilities provider’s stock, valued at approximately $4,185,000. Pinnbrook Capital Management LP owned 0.10% of TransAlta at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Creative Planning raised its position in shares of TransAlta by 6.9% during the third quarter. Creative Planning now owns 53,803 shares of the utilities provider’s stock valued at $557,000 after buying an additional 3,492 shares during the last quarter. Blue Trust Inc. increased its holdings in TransAlta by 326.3% in the 3rd quarter. Blue Trust Inc. now owns 18,064 shares of the utilities provider’s stock valued at $187,000 after acquiring an additional 13,827 shares during the last quarter. Signaturefd LLC lifted its stake in TransAlta by 23.6% in the 3rd quarter. Signaturefd LLC now owns 26,207 shares of the utilities provider’s stock worth $272,000 after purchasing an additional 5,008 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of TransAlta by 192.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 34,081 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 22,431 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new position in shares of TransAlta during the 3rd quarter valued at about $42,000. 59.00% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently commented on TAC shares. Scotiabank downgraded TransAlta from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, January 23rd. Cibc World Mkts downgraded TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. CIBC cut shares of TransAlta from a “sector outperform” rating to a “neutral” rating in a research report on Wednesday, January 8th. Desjardins reiterated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. Finally, StockNews.com upgraded shares of TransAlta from a “hold” rating to a “buy” rating in a report on Tuesday, February 11th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.
TransAlta Price Performance
Shares of TransAlta stock opened at $10.50 on Tuesday. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 28.37 and a beta of 0.83. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. The stock has a 50 day moving average price of $12.84 and a 200-day moving average price of $10.92. TransAlta Co. has a one year low of $5.94 and a one year high of $14.64.
TransAlta Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 1st will be issued a $0.0423 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.17 annualized dividend and a dividend yield of 1.61%. TransAlta’s dividend payout ratio (DPR) is presently 48.65%.
TransAlta 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.
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