Louisbourg Investments Inc. acquired a new position in shares of TransAlta Co. (NYSE:TAC - Free Report) TSE: TA during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 243,300 shares of the utilities provider's stock, valued at approximately $3,439,000. Louisbourg Investments Inc. owned approximately 0.08% of TransAlta at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of TransAlta by 2.1% during the third quarter. Geode Capital Management LLC now owns 122,621 shares of the utilities provider's stock worth $1,277,000 after purchasing an additional 2,524 shares in the last quarter. Tobam acquired a new position in shares of TransAlta during the fourth quarter worth about $46,000. Creative Planning lifted its stake in shares of TransAlta by 6.9% during the third quarter. Creative Planning now owns 53,803 shares of the utilities provider's stock worth $557,000 after purchasing an additional 3,492 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in shares of TransAlta during the third quarter worth about $42,000. Finally, Signaturefd LLC increased its position in shares of TransAlta by 23.6% during the third quarter. Signaturefd LLC now owns 26,207 shares of the utilities provider's stock worth $272,000 after acquiring an additional 5,008 shares during the last quarter. Institutional investors and hedge funds own 59.00% of the company's stock.
Analyst Upgrades and Downgrades
TAC has been the topic of a number of analyst reports. Cibc World Mkts lowered TransAlta from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 8th. Scotiabank lowered TransAlta from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, January 23rd. StockNews.com raised TransAlta from a "hold" rating to a "buy" rating in a research report on Tuesday. CIBC lowered TransAlta from a "sector outperform" rating to a "neutral" rating in a research report on Wednesday, January 8th. Finally, Desjardins reaffirmed a "hold" rating on shares of TransAlta in a research report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold".
Read Our Latest Research Report on TransAlta
TransAlta Stock Up 0.7 %
TransAlta stock traded up $0.08 during midday trading on Friday, hitting $10.50. The stock had a trading volume of 794,321 shares, compared to its average volume of 1,902,395. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The stock has a market cap of $3.12 billion, a P/E ratio of 28.37 and a beta of 0.83. TransAlta Co. has a 12 month low of $5.94 and a 12 month high of $14.64. The business has a fifty day moving average price of $12.89 and a 200 day moving average price of $10.86.
TransAlta Cuts Dividend
The business 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 dividend of $0.0423 per share. This represents a $0.17 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, February 28th. TransAlta's dividend payout ratio (DPR) is presently 48.65%.
TransAlta Profile
(
Free Report)
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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