Mitsubishi UFJ Trust & Banking Corp Has $4.18 Million Stock Holdings in TransAlta Co. (NYSE:TAC)

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 14.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 295,300 shares of the utilities provider's stock after selling 51,100 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.10% of TransAlta worth $4,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TAC. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of TransAlta by 638.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,995,489 shares of the utilities provider's stock worth $112,936,000 after buying an additional 6,913,431 shares during the last quarter. American Century Companies Inc. lifted its holdings in TransAlta by 512.0% in the 4th quarter. American Century Companies Inc. now owns 4,870,226 shares of the utilities provider's stock worth $68,880,000 after purchasing an additional 4,074,395 shares during the last quarter. Yaupon Capital Management LP boosted its position in TransAlta by 69.9% during the third quarter. Yaupon Capital Management LP now owns 2,685,955 shares of the utilities provider's stock worth $27,840,000 after purchasing an additional 1,105,191 shares during the period. Artemis Investment Management LLP acquired a new position in TransAlta during the fourth quarter valued at approximately $7,139,000. Finally, Potrero Capital Research LLC acquired a new stake in shares of TransAlta in the third quarter worth $5,088,000. Institutional investors own 59.00% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

TAC has been the topic of several recent analyst reports. StockNews.com downgraded shares of TransAlta from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Cibc World Mkts raised TransAlta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Scotiabank lowered shares of TransAlta from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, January 23rd. Finally, CIBC upgraded shares of TransAlta from a "neutral" rating to an "outperformer" rating and reduced their target price for the company from $23.00 to $19.50 in a research note on Tuesday, February 18th. Three equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.50.

TransAlta Price Performance

TAC traded down $0.38 during midday trading on Thursday, reaching $9.20. 1,127,851 shares of the company's stock were exchanged, compared to its average volume of 1,129,272. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. The business has a 50-day simple moving average of $10.32 and a two-hundred day simple moving average of $11.19. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 22.43 and a beta of 0.89. TransAlta Co. has a one year low of $5.94 and a one year high of $14.64.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last issued its earnings results on Thursday, February 20th. The utilities provider reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28). The firm had revenue of $484.60 million during the quarter. TransAlta had a net margin of 6.38% and a return on equity of 18.47%. As a group, research analysts predict that TransAlta Co. will post 0.41 EPS for the current year.

TransAlta Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Sunday, June 1st will be paid a $0.0458 dividend. The ex-dividend date of this dividend is Friday, May 30th. This is a positive change from TransAlta's previous quarterly dividend of $0.04. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.99%. TransAlta's dividend payout ratio (DPR) is 43.90%.

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.