TransAlta (NYSE:TAC) Sets New 52-Week High - What's Next?

TransAlta Co. (NYSE:TAC - Get Free Report) TSE: TA shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $14.11 and last traded at $13.99, with a volume of 131028 shares. The stock had previously closed at $13.91.

Analysts Set New Price Targets

TAC has been the topic of several research reports. Desjardins reiterated a "hold" rating on shares of TransAlta in a research report on Wednesday, November 6th. Scotiabank upgraded TransAlta to a "strong-buy" rating in a report on Thursday, December 5th. Finally, StockNews.com cut TransAlta from a "strong-buy" rating to a "buy" rating in a report on Wednesday, November 6th.

TransAlta Trading Up 3.1 %

The company has a market cap of $4.27 billion, a PE ratio of 37.14 and a beta of 0.91. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The business has a 50 day simple moving average of $10.95 and a two-hundred day simple moving average of $9.14.

TransAlta Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 1st will be paid a $0.0423 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Friday, February 28th. TransAlta's payout ratio is 45.95%.

Institutional Investors Weigh In On TransAlta

Institutional investors have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of TransAlta by 122.7% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider's stock worth $1,015,000 after purchasing an additional 79,000 shares during the period. Clayton Partners LLC raised its holdings in TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider's stock valued at $3,244,000 after buying an additional 439,013 shares during the period. Rubric Capital Management LP lifted its position in TransAlta by 20.0% during 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 buying an additional 935,803 shares in the last quarter. FMR LLC grew its stake in TransAlta by 9.8% during the third quarter. FMR LLC now owns 4,593,023 shares of the utilities provider's stock worth $47,613,000 after buying an additional 408,184 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of TransAlta in the third quarter worth $518,000. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

TransAlta Company 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.