TransAlta Co. (NYSE:TAC) Holdings Lifted by Beryl Capital Management LLC

Beryl Capital Management LLC grew its position in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,127,850 shares of the utilities provider's stock after purchasing an additional 342,579 shares during the period. TransAlta makes up approximately 3.6% of Beryl Capital Management LLC's investment portfolio, making the stock its 5th largest holding. Beryl Capital Management LLC owned 0.38% of TransAlta worth $15,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of TransAlta by 638.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 7,995,489 shares of the utilities provider's stock worth $112,936,000 after buying an additional 6,913,431 shares during the last quarter. Artisan Partners Limited Partnership acquired a new position in TransAlta during the fourth quarter worth $67,038,000. American Century Companies Inc. raised its position in TransAlta by 512.0% during the fourth quarter. American Century Companies Inc. now owns 4,870,226 shares of the utilities provider's stock worth $68,880,000 after acquiring an additional 4,074,395 shares in the last quarter. Bank of America Corp DE raised its position in TransAlta by 280.1% during the fourth quarter. Bank of America Corp DE now owns 5,385,966 shares of the utilities provider's stock worth $76,211,000 after acquiring an additional 3,969,037 shares in the last quarter. Finally, FMR LLC lifted its stake in TransAlta by 79.7% in the fourth quarter. FMR LLC now owns 8,255,923 shares of the utilities provider's stock valued at $116,764,000 after acquiring an additional 3,662,900 shares during the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

TransAlta Price Performance

Shares of NYSE:TAC traded up $0.18 during trading on Friday, hitting $8.69. 347,317 shares of the company were exchanged, compared to its average volume of 1,148,006. The business's 50 day moving average is $9.08 and its 200-day moving average is $10.89. TransAlta Co. has a 1-year low of $6.78 and a 1-year high of $14.64. The company has a market capitalization of $2.59 billion, a P/E ratio of 21.20 and a beta of 0.71. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last announced its earnings results on Wednesday, May 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $526.69 million for the quarter, compared to the consensus estimate of $509.31 million. TransAlta had a return on equity of 18.47% and a net margin of 6.38%. Equities analysts forecast that TransAlta Co. will post 0.41 earnings per share for the current year.

TransAlta Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 1st will be issued a dividend of $0.0458 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from TransAlta's previous quarterly dividend of $0.04. The ex-dividend date is Friday, May 30th. TransAlta's dividend payout ratio is presently 43.90%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TAC. CIBC upgraded shares of TransAlta from a "neutral" rating to an "outperformer" rating and cut their target price for the company from $23.00 to $19.50 in a research note on Tuesday, February 18th. Jefferies Financial Group began coverage on shares of TransAlta in a report on Friday, April 11th. They issued a "hold" rating on the stock. Cibc World Mkts raised TransAlta from a "hold" rating to a "strong-buy" rating in a report on Tuesday, February 18th. Scotiabank cut shares of TransAlta from a "sector outperform" rating to a "sector perform" rating in a research note on Thursday, January 23rd. Finally, StockNews.com lowered shares of TransAlta from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, TransAlta presently has a consensus rating of "Moderate Buy" and an average price target of $19.75.

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.