CenterBook Partners LP Trims Position in TransAlta Corporation $TAC

CenterBook Partners LP reduced its position in TransAlta Corporation (NYSE:TAC) (TSE:TA) by 90.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,372 shares of the utilities provider’s stock after selling 700,082 shares during the quarter. CenterBook Partners LP’s holdings in TransAlta were worth $1,030,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TAC. Vanguard Group Inc. increased its stake in TransAlta by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 10,949,384 shares of the utilities provider’s stock worth $149,569,000 after acquiring an additional 248,027 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of TransAlta by 493.5% during the third quarter. JPMorgan Chase & Co. now owns 100,317 shares of the utilities provider’s stock worth $1,371,000 after purchasing an additional 83,414 shares in the last quarter. Savant Capital LLC increased its position in shares of TransAlta by 27.7% in the third quarter. Savant Capital LLC now owns 15,002 shares of the utilities provider’s stock worth $205,000 after purchasing an additional 3,257 shares during the last quarter. IMC Chicago LLC bought a new position in shares of TransAlta in the third quarter worth approximately $269,000. Finally, State of Wyoming raised its stake in TransAlta by 231.6% in the third quarter. State of Wyoming now owns 20,236 shares of the utilities provider’s stock valued at $277,000 after purchasing an additional 14,133 shares in the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Stock Performance

Shares of TAC opened at $13.52 on Friday. The company has a 50-day simple moving average of $12.90 and a two-hundred day simple moving average of $13.74. The company has a debt-to-equity ratio of 5.22, a current ratio of 0.79 and a quick ratio of 0.71. The firm has a market capitalization of $4.01 billion, a PE ratio of -28.16 and a beta of 0.78. TransAlta Corporation has a one year low of $7.82 and a one year high of $17.88.

TransAlta Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Sunday, March 1st will be paid a dividend of $0.065 per share. The ex-dividend date is Friday, February 27th. This represents a $0.26 dividend on an annualized basis and a yield of 1.9%. TransAlta’s payout ratio is currently -39.58%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of TransAlta in a research report on Monday, November 10th. TD Securities reiterated a “buy” rating on shares of TransAlta in a research report on Wednesday, December 10th. Weiss Ratings restated a “sell (d+)” rating on shares of TransAlta in a report on Wednesday, January 21st. Zacks Research raised shares of TransAlta from a “strong sell” rating to a “hold” rating in a report on Friday, December 5th. Finally, National Bank Financial cut shares of TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.00.

TransAlta Profile

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.