Rathbones Group PLC lessened its position in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 41.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,012 shares of the utilities provider's stock after selling 40,000 shares during the quarter. Rathbones Group PLC's holdings in TransAlta were worth $806,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in TAC. Bank of Montreal Can boosted its stake in TransAlta by 8.4% during the 4th quarter. Bank of Montreal Can now owns 9,290,110 shares of the utilities provider's stock worth $131,222,000 after purchasing an additional 716,139 shares during the last quarter. FMR LLC grew its stake in TransAlta by 79.7% during the 4th quarter. FMR LLC now owns 8,255,923 shares of the utilities provider's stock valued at $116,764,000 after acquiring an additional 3,662,900 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in TransAlta by 52.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 37,597 shares of the utilities provider's stock valued at $532,000 after acquiring an additional 12,871 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in TransAlta in the 4th quarter worth approximately $1,913,000. Finally, Geode Capital Management LLC grew its position in shares of TransAlta by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 126,761 shares of the utilities provider's stock valued at $1,811,000 after purchasing an additional 4,140 shares in the last quarter. Hedge funds and other institutional investors own 59.00% of the company's stock.
TransAlta Trading Up 1.7 %
Shares of TAC stock traded up $0.15 on Monday, hitting $8.84. The stock had a trading volume of 113,491 shares, compared to its average volume of 1,141,327. The company's 50 day moving average price is $9.77 and its 200-day moving average price is $11.11. TransAlta Co. has a 1 year low of $5.94 and a 1 year high of $14.64. 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 firm has a market capitalization of $2.64 billion, a P/E ratio of 21.56 and a beta of 0.72.
TransAlta (NYSE:TAC - Get Free Report) TSE: TA last posted its quarterly earnings data on Thursday, February 20th. The utilities provider reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.28). TransAlta had a net margin of 6.38% and a return on equity of 18.47%. The business had revenue of $484.60 million during the quarter. Analysts anticipate that TransAlta Co. will post 0.41 earnings per share for the current year.
TransAlta Increases Dividend
The business also recently disclosed 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. This is a boost from TransAlta's previous quarterly dividend of $0.04. This represents a $0.18 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, May 30th. TransAlta's dividend payout ratio (DPR) is presently 43.90%.
Wall Street Analyst Weigh In
TAC has been the subject of several analyst reports. Cibc World Mkts upgraded TransAlta from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Jefferies Financial Group began coverage on shares of TransAlta in a report on Friday. They issued a "hold" rating on the stock. StockNews.com downgraded shares of TransAlta from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Scotiabank lowered TransAlta from a "sector outperform" rating to a "sector perform" rating in a research report on Thursday, January 23rd. Finally, CIBC upgraded 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 report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $19.50.
View Our Latest Report on TAC
TransAlta Company 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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