PCJ Investment Counsel Ltd. acquired a new stake in shares of TransAlta Co. (NYSE:TAC - Free Report) TSE: TA in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 248,250 shares of the utilities provider's stock, valued at approximately $2,573,000. PCJ Investment Counsel Ltd. owned 0.08% of TransAlta as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Financial Management Professionals Inc. bought a new stake in TransAlta in the 3rd quarter valued at about $42,000. Blue Trust Inc. grew its position in TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 3,951 shares during the last quarter. Mather Group LLC. purchased a new stake in TransAlta in the second quarter valued at about $64,000. Evergreen Capital Management LLC purchased a new position in shares of TransAlta during the 2nd quarter valued at approximately $72,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of TransAlta during the first quarter worth $66,000. 59.00% of the stock is currently owned by institutional investors and hedge funds.
TransAlta Trading Down 1.2 %
NYSE:TAC traded down $0.12 during mid-day trading on Wednesday, hitting $10.23. 254,696 shares of the stock traded hands, compared to its average volume of 757,141. The firm's 50 day moving average is $10.17 and its two-hundred day moving average is $8.49. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $11.10. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 27.76 and a beta of 0.92. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94.
TransAlta Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be paid a dividend of $0.044 per share. The ex-dividend date is Friday, November 29th. This represents a $0.18 annualized dividend and a dividend yield of 1.72%. TransAlta's dividend payout ratio is currently 45.95%.
Analyst Upgrades and Downgrades
TAC has been the topic of several research analyst reports. StockNews.com lowered shares of TransAlta from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, November 6th. Desjardins reiterated a "hold" rating on shares of TransAlta in a report on Wednesday, November 6th.
Check Out Our Latest Stock Analysis on TransAlta
About TransAlta
(
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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