Polar Asset Management Partners Inc. bought a new stake in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 50,000 shares of the utilities provider's stock, valued at approximately $518,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Potrero Capital Research LLC acquired a new stake in TransAlta in the third quarter valued at approximately $5,088,000. Cinctive Capital Management LP acquired a new stake in TransAlta in the third quarter valued at approximately $4,031,000. Rubric Capital Management LP raised its holdings in TransAlta by 20.0% in the third quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider's stock valued at $58,254,000 after acquiring an additional 935,803 shares in the last quarter. Quantbot Technologies LP purchased a new position in TransAlta in the third quarter valued at approximately $61,000. Finally, FMR LLC increased its stake in TransAlta by 9.8% in the third quarter. FMR LLC now owns 4,593,023 shares of the utilities provider's stock valued at $47,613,000 after purchasing an additional 408,184 shares during the last quarter. Institutional investors and hedge funds own 59.00% of the company's stock.
TransAlta Stock Performance
Shares of TAC traded up $0.69 during mid-day trading on Friday, reaching $13.48. 2,921,103 shares of the company's stock were exchanged, compared to its average volume of 874,968. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. The stock has a market capitalization of $4.02 billion, a PE ratio of 36.43 and a beta of 0.91. The business's fifty day simple moving average is $10.62 and its 200-day simple moving average is $8.85. TransAlta Co. has a 52-week low of $5.94 and a 52-week high of $13.53.
TransAlta Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be given a dividend of $0.044 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.31%. TransAlta's dividend payout ratio (DPR) is presently 45.95%.
Wall Street Analyst Weigh In
TAC has been the topic of several recent analyst reports. Desjardins reiterated a "hold" rating on shares of TransAlta in a research note on Wednesday, November 6th. StockNews.com lowered shares of TransAlta from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, November 6th. Finally, Scotiabank upgraded shares of TransAlta to a "strong-buy" rating in a research note on Thursday.
Check Out Our Latest Stock Analysis on TAC
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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