TransAlta Corporation $TAC Stock Position Lifted by Invesco Ltd.

Invesco Ltd. grew its position in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) by 1,150.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 904,342 shares of the utilities provider’s stock after buying an additional 832,000 shares during the period. Invesco Ltd. owned about 0.31% of TransAlta worth $8,456,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. NBC Securities Inc. raised its position in shares of TransAlta by 145,600.0% during the 1st quarter. NBC Securities Inc. now owns 2,914 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 2,912 shares during the period. Tobam raised its position in shares of TransAlta by 239.2% during the 1st quarter. Tobam now owns 10,943 shares of the utilities provider’s stock worth $102,000 after purchasing an additional 7,717 shares during the period. Private Advisor Group LLC raised its position in shares of TransAlta by 64.9% during the 1st quarter. Private Advisor Group LLC now owns 17,525 shares of the utilities provider’s stock worth $164,000 after purchasing an additional 6,900 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in TransAlta in the 4th quarter valued at approximately $167,000. Finally, Two Sigma Investments LP acquired a new stake in TransAlta in the 4th quarter valued at approximately $195,000. Institutional investors own 59.00% of the company’s stock.

Wall Street Analyst Weigh In

TAC has been the topic of several analyst reports. TD Securities restated a “buy” rating and issued a $20.00 target price (up from $19.00) on shares of TransAlta in a research report on Tuesday, August 5th. Scotiabank upgraded TransAlta from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $16.00 to $20.00 in a research report on Friday, July 18th. National Bankshares restated an “outperform” rating on shares of TransAlta in a research report on Tuesday, August 5th. Wall Street Zen upgraded TransAlta from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, Jefferies Financial Group upgraded TransAlta from a “hold” rating to a “buy” rating in a research report on Thursday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.88.

TransAlta Stock Up 0.2%

Shares of TAC stock opened at $12.1550 on Tuesday. The stock has a market cap of $3.60 billion, a PE ratio of -28.94 and a beta of 0.75. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.72 and a current ratio of 0.79. The business’s fifty day moving average is $11.72 and its 200-day moving average is $10.29. TransAlta Corporation has a 1 year low of $7.82 and a 1 year high of $14.64.

TransAlta (NYSE:TAC) (TSE:TA) last released its quarterly earnings data on Friday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. The business had revenue of $451.20 million during the quarter, compared to analyst estimates of $473.94 million. TransAlta had a negative return on equity of 2.06% and a negative net margin of 6.79%. Equities analysts expect that TransAlta Corporation will post 0.41 earnings per share for the current fiscal year.

TransAlta Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 1st will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.26 annualized dividend and a dividend yield of 2.1%. This is a boost from TransAlta’s previous quarterly dividend of $0.05. TransAlta’s dividend payout ratio is -45.24%.

TransAlta 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.