Raymond James Financial Services Advisors Inc. purchased a new stake in shares of TransAlta Co. (NYSE:TAC – Free Report) (TSE:TA) in the 2nd quarter, HoldingsChannel reports. The fund purchased 18,272 shares of the utilities provider’s stock, valued at approximately $171,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of TAC. JPMorgan Chase & Co. lifted its position in TransAlta by 4.2% during the first quarter. JPMorgan Chase & Co. now owns 895,049 shares of the utilities provider’s stock valued at $9,273,000 after acquiring an additional 36,076 shares during the last quarter. Citigroup Inc. raised its stake in TransAlta by 176.5% in the first quarter. Citigroup Inc. now owns 117,815 shares of the utilities provider’s stock valued at $1,220,000 after buying an additional 75,201 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in TransAlta in the first quarter valued at about $472,000. Cibc World Market Inc. raised its stake in TransAlta by 48.1% in the first quarter. Cibc World Market Inc. now owns 527,834 shares of the utilities provider’s stock valued at $5,468,000 after buying an additional 171,425 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in TransAlta by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 642,345 shares of the utilities provider’s stock valued at $6,655,000 after buying an additional 13,793 shares during the last quarter. Hedge funds and other institutional investors own 64.93% of the company’s stock.
TransAlta Trading Down 1.1 %
Shares of NYSE:TAC opened at $7.79 on Tuesday. TransAlta Co. has a 52-week low of $7.22 and a 52-week high of $10.40. The company has a quick ratio of 1.53, a current ratio of 1.66 and a debt-to-equity ratio of 2.60. The stock has a market cap of $2.41 billion, a price-to-earnings ratio of 11.13 and a beta of 1.07. The business has a 50-day moving average price of $8.65 and a 200-day moving average price of $9.32.
TransAlta Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 1st will be given a dividend of $0.0398 per share. This represents a $0.16 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Thursday, November 30th. TransAlta’s dividend payout ratio is currently 21.43%.
Analyst Upgrades and Downgrades
TAC has been the subject of several research analyst reports. TD Securities initiated coverage on shares of TransAlta in a research report on Friday, October 6th. They issued a “buy” rating for the company. StockNews.com assumed coverage on shares of TransAlta in a report on Thursday, October 5th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $16.10.
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 has a net ownership interest of approximately 922 megawatts (MW) of owned hydro electrical-generating capacity located in Alberta, British Columbia, and Ontario.
- Five stocks we like better than TransAlta
- 3 Must-Buy Warren Buffett Stocks for Volatile Times
- These 5 small-cap impact stocks are making social change
- Transportation Stocks Investing
- Alphabet slays its earnings but falls on its sword with cloud
- How to Use the MarketBeat Stock Split Calculator
- There’s nothing artificial about NVIDIA’s relationship with AI
Receive News & Ratings for TransAlta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransAlta and related companies with MarketBeat.com's FREE daily email newsletter.