Point72 Asset Management L.P. Boosts Stock Position in TransAlta Co. (NYSE:TAC)

Point72 Asset Management L.P. raised its stake in shares of TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 37.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,286,800 shares of the utilities provider's stock after purchasing an additional 352,860 shares during the quarter. Point72 Asset Management L.P. owned 0.43% of TransAlta worth $13,343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rubric Capital Management LP lifted its holdings in shares of TransAlta by 20.0% during the 3rd quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider's stock worth $58,254,000 after acquiring an additional 935,803 shares during the last quarter. Potrero Capital Research LLC purchased a new stake in TransAlta during the third quarter valued at about $5,088,000. Clayton Partners LLC lifted its stake in TransAlta by 2,293.5% during the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider's stock worth $3,244,000 after purchasing an additional 439,013 shares during the last quarter. FMR LLC boosted its holdings in shares of TransAlta by 9.8% in the 3rd quarter. FMR LLC now owns 4,593,023 shares of the utilities provider's stock worth $47,613,000 after purchasing an additional 408,184 shares in the last quarter. Finally, Cinctive Capital Management LP bought a new position in shares of TransAlta during the 3rd quarter valued at about $4,031,000. Hedge funds and other institutional investors own 59.00% of the company's stock.

TransAlta Trading Up 5.4 %

Shares of TAC traded up $0.69 during trading hours on Friday, hitting $13.48. The company had a trading volume of 2,921,103 shares, compared to its average volume of 874,968. TransAlta Co. has a 52-week low of $5.94 and a 52-week high of $13.53. 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 stock's 50 day moving average price is $10.62 and its 200 day moving average price is $8.85. The firm has a market cap of $4.02 billion, a P/E ratio of 36.43 and a beta of 0.91.

TransAlta Announces Dividend

The business 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 $0.044 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.31%. TransAlta's dividend payout ratio (DPR) is currently 45.95%.

Analyst Upgrades and Downgrades

TAC has been the subject of a number of recent research reports. Scotiabank upgraded TransAlta to a "strong-buy" rating in a research report on Thursday. Desjardins reissued a "hold" rating on shares of TransAlta in a research note on Wednesday, November 6th. Finally, StockNews.com cut shares of TransAlta from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 6th.

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.