Rubric Capital Management LP Raises Holdings in TransAlta Co. (NYSE:TAC)

Rubric Capital Management LP lifted its stake in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 20.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,622,961 shares of the utilities provider's stock after purchasing an additional 935,803 shares during the quarter. TransAlta comprises approximately 0.9% of Rubric Capital Management LP's holdings, making the stock its 29th largest position. Rubric Capital Management LP owned 1.88% of TransAlta worth $58,254,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bayesian Capital Management LP lifted its position in TransAlta by 105.7% in the 1st quarter. Bayesian Capital Management LP now owns 22,570 shares of the utilities provider's stock valued at $145,000 after acquiring an additional 11,600 shares in the last quarter. Mather Group LLC. bought a new position in TransAlta in the 2nd quarter valued at approximately $64,000. Clear Harbor Asset Management LLC bought a new position in TransAlta in the 2nd quarter valued at approximately $514,000. Blue Trust Inc. lifted 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in TransAlta in the 2nd quarter valued at approximately $172,000. 59.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on TAC. Desjardins reissued a "hold" rating on shares of TransAlta in a report on Wednesday, November 6th. StockNews.com cut TransAlta from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 6th.

TransAlta Stock Performance

Shares of NYSE:TAC traded up $0.22 during midday trading on Wednesday, hitting $11.09. The company had a trading volume of 582,409 shares, compared to its average volume of 764,767. 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 company has a market cap of $3.31 billion, a price-to-earnings ratio of 29.38 and a beta of 0.92. TransAlta Co. has a 12-month low of $5.94 and a 12-month high of $11.13. The company has a fifty day moving average of $10.33 and a two-hundred day moving average of $8.61.

TransAlta Announces Dividend

The firm 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 of this dividend is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.59%. TransAlta's payout ratio is presently 45.95%.

About TransAlta

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.