Caption Management LLC Invests $544,000 in TransAlta Co. (NYSE:TAC)

Caption Management LLC purchased a new stake in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 38,449 shares of the utilities provider's stock, valued at approximately $544,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tobam bought a new position in shares of TransAlta during the fourth quarter valued at $46,000. Ballentine Partners LLC acquired a new position in shares of TransAlta during the fourth quarter valued at about $145,000. Orion Portfolio Solutions LLC acquired a new position in shares of TransAlta during the fourth quarter valued at about $147,000. Private Advisor Group LLC purchased a new position in TransAlta during the fourth quarter worth about $150,000. Finally, Sage Investment Counsel LLC purchased a new position in TransAlta during the fourth quarter worth about $156,000. Institutional investors and hedge funds own 59.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on TAC shares. Cibc World Mkts raised shares of TransAlta from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 18th. Jefferies Financial Group began coverage on shares of TransAlta in a research note on Friday, April 11th. They issued a "hold" rating for the company. Royal Bank of Canada cut their price objective on shares of TransAlta from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday. StockNews.com cut shares of TransAlta from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Finally, CIBC raised shares of TransAlta from a "neutral" rating to an "outperformer" rating and dropped their price target for the company from $23.00 to $19.50 in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

TransAlta Price Performance

TAC traded up $0.18 during trading hours on Monday, hitting $8.84. The company's stock had a trading volume of 162,648 shares, compared to its average volume of 1,697,663. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The business's 50-day moving average price is $9.06 and its 200-day moving average price is $10.89. The stock has a market cap of $2.62 billion, a price-to-earnings ratio of 21.55 and a beta of 0.71. TransAlta Co. has a 12 month low of $6.78 and a 12 month high of $14.64.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last released its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.02). The business had revenue of $526.69 million during the quarter, compared to analysts' expectations of $509.31 million. TransAlta had a return on equity of 18.47% and a net margin of 6.38%. Sell-side analysts expect that TransAlta Co. 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 Tuesday, July 1st. Investors of record on Sunday, June 1st will be issued a $0.0458 dividend. This represents a $0.18 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from TransAlta's previous quarterly dividend of $0.04. TransAlta's dividend payout ratio is -900.00%.

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.