American Century Companies Inc. Lowers Holdings in TransAlta Corporation $TAC

American Century Companies Inc. lessened its stake in TransAlta Corporation (NYSE:TAC) (TSE:TA) by 1.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,006,296 shares of the utilities provider’s stock after selling 50,051 shares during the quarter. American Century Companies Inc. owned approximately 1.01% of TransAlta worth $41,065,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Rubric Capital Management LP lifted its stake in TransAlta by 32.9% in the 2nd quarter. Rubric Capital Management LP now owns 15,948,451 shares of the utilities provider’s stock worth $172,084,000 after purchasing an additional 3,948,451 shares in the last quarter. Vanguard Group Inc. grew its position in shares of TransAlta by 2.3% during the third quarter. Vanguard Group Inc. now owns 10,949,384 shares of the utilities provider’s stock valued at $149,569,000 after purchasing an additional 248,027 shares in the last quarter. Oaktree Capital Management LP increased its holdings in shares of TransAlta by 9.0% in the second quarter. Oaktree Capital Management LP now owns 6,085,253 shares of the utilities provider’s stock worth $65,513,000 after purchasing an additional 500,000 shares during the last quarter. AustralianSuper Pty Ltd bought a new stake in shares of TransAlta in the third quarter worth about $36,395,000. Finally, Invesco Ltd. boosted its position in shares of TransAlta by 18.9% during the 2nd quarter. Invesco Ltd. now owns 1,075,171 shares of the utilities provider’s stock valued at $11,601,000 after acquiring an additional 170,829 shares during the last quarter. 59.00% of the stock is owned by hedge funds and other institutional investors.

TransAlta Stock Performance

TAC opened at $12.73 on Friday. The firm’s fifty day simple moving average is $12.96 and its two-hundred day simple moving average is $13.81. TransAlta Corporation has a 52-week low of $7.82 and a 52-week high of $17.88. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -27.08 and a beta of 0.77. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 6.54.

TransAlta (NYSE:TAC) (TSE:TA) last posted its quarterly earnings data on Friday, February 27th. The utilities provider reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.09). TransAlta had a negative net margin of 7.51% and a positive return on equity of 10.00%. The firm had revenue of $436.10 million during the quarter, compared to analyst estimates of $493.39 million. Equities analysts anticipate that TransAlta Corporation will post 0.41 earnings per share for the current fiscal year.

TransAlta Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.07 per share. The ex-dividend date is Monday, June 1st. This is a boost from TransAlta’s previous quarterly dividend of $0.07. This represents a $0.28 dividend on an annualized basis and a yield of 2.2%. TransAlta’s dividend payout ratio (DPR) is presently -40.43%.

Analyst Upgrades and Downgrades

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

TransAlta Company 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.