Clayton Partners LLC Has $5.25 Million Position in TransAlta Corporation $TAC

Key Points

• Clayton Partners LLC reduced its stake in TransAlta Corporation (NYSE:TAC) by 28.0%, now holding 561,281 shares worth approximately $5.25 million, making it the firm's 5th largest holding.
• TransAlta reported a quarterly EPS of $0.13, beating estimates, but had lower revenues compared to analyst expectations at $451.20 million.
• TransAlta announced an increase in its quarterly dividend to $0.065 per share, effective October 1st, reflecting a boost from the previous $0.05 dividend.

Clayton Partners LLC lowered its stake in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 28.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 561,281 shares of the utilities provider's stock after selling 218,650 shares during the quarter. TransAlta makes up approximately 4.6% of Clayton Partners LLC's investment portfolio, making the stock its 5th largest position. Clayton Partners LLC owned approximately 0.19% of TransAlta worth $5,248,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State of Wyoming acquired a new position in TransAlta during the first quarter worth approximately $146,000. Trexquant Investment LP increased its position in TransAlta by 301.4% during the first quarter. Trexquant Investment LP now owns 353,732 shares of the utilities provider's stock worth $3,307,000 after buying an additional 265,597 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in TransAlta by 491.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 697,393 shares of the utilities provider's stock worth $6,510,000 after buying an additional 579,577 shares during the last quarter. Quantbot Technologies LP acquired a new position in TransAlta during the first quarter worth approximately $571,000. Finally, Versor Investments LP acquired a new position in TransAlta during the first quarter worth approximately $526,000. Institutional investors and hedge funds own 59.00% of the company's stock.

TransAlta Price Performance

Shares of TAC stock traded down $0.08 during trading on Wednesday, hitting $12.03. The company had a trading volume of 116,563 shares, compared to its average volume of 1,540,376. 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 firm has a market capitalization of $3.56 billion, a P/E ratio of -28.63 and a beta of 0.78. The stock's 50-day moving average price is $11.85 and its 200 day moving average price is $10.37. TransAlta Corporation has a one year low of $7.82 and a one year high of $14.64.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last released its earnings results 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. TransAlta had a negative return on equity of 2.06% and a negative net margin of 6.79%.The firm had revenue of $451.20 million during the quarter, compared to analysts' expectations of $473.94 million. Equities analysts expect that TransAlta Corporation will post 0.41 EPS for the current fiscal year.

TransAlta Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 1st will be paid a dividend of $0.065 per share. The ex-dividend date is Friday, August 29th. This is a boost from TransAlta's previous quarterly dividend of $0.05. This represents a $0.26 annualized dividend and a yield of 2.2%. TransAlta's dividend payout ratio is currently -45.24%.

Analyst Ratings Changes

Several equities analysts have recently commented on TAC shares. Jefferies Financial Group raised TransAlta from a "hold" rating to a "buy" rating in a research report on Thursday, June 12th. Wall Street Zen raised TransAlta from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. TD Securities reaffirmed a "buy" rating and issued a $20.00 target price (up previously from $19.00) on shares of TransAlta in a research report on Tuesday, August 5th. National Bankshares reaffirmed an "outperform" rating on shares of TransAlta in a research report on Tuesday, August 5th. Finally, Royal Bank Of Canada decreased their target price on TransAlta from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $19.88.

About TransAlta

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.