TransAlta (NYSE:TAC) Sets New 12-Month High - Here's Why

TransAlta Co. (NYSE:TAC - Get Free Report) TSE: TA shares reached a new 52-week high during trading on Tuesday . The company traded as high as $10.78 and last traded at $10.67, with a volume of 462699 shares trading hands. The stock had previously closed at $10.29.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TAC. Desjardins initiated coverage on shares of TransAlta in a research report on Wednesday, October 30th. They set a "buy" rating for the company. StockNews.com downgraded TransAlta from a "strong-buy" rating to a "buy" rating in a report on Wednesday, September 25th.

TransAlta Stock Up 7.6 %

The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 3.43. The stock has a market cap of $3.30 billion, a P/E ratio of 7.33 and a beta of 0.92. The company's 50 day moving average price is $9.90 and its two-hundred day moving average price is $8.23.

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 issued a dividend of $0.044 per share. This represents a $0.18 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta's dividend payout ratio is presently 11.26%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of TransAlta by 25.3% during the 4th quarter. Vanguard Group Inc. now owns 10,498,451 shares of the utilities provider's stock valued at $87,242,000 after purchasing an additional 2,116,907 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of TransAlta by 9.0% in the 2nd quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider's stock worth $25,267,000 after purchasing an additional 299,594 shares during the period. Intact Investment Management Inc. increased its position in shares of TransAlta by 5.6% during the 2nd quarter. Intact Investment Management Inc. now owns 1,912,250 shares of the utilities provider's stock valued at $13,557,000 after purchasing an additional 101,200 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in TransAlta by 22.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 929,631 shares of the utilities provider's stock valued at $6,582,000 after buying an additional 169,219 shares during the period. Finally, Acadian Asset Management LLC lifted its position in TransAlta by 71.9% in the first quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider's stock worth $4,131,000 after buying an additional 269,444 shares during the last quarter. Hedge funds and other institutional investors own 59.00% of the company's stock.

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.