Jupiter Asset Management Ltd. purchased a new position in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 38,084 shares of the utilities provider's stock, valued at approximately $355,000.
Several other institutional investors also recently added to or reduced their stakes in TAC. NBC Securities Inc. increased its position in TransAlta by 145,600.0% in the 1st quarter. NBC Securities Inc. now owns 2,914 shares of the utilities provider's stock worth $27,000 after buying an additional 2,912 shares during the period. Tobam increased its position in TransAlta by 239.2% in the 1st quarter. Tobam now owns 10,943 shares of the utilities provider's stock worth $102,000 after buying an additional 7,717 shares during the period. Orion Portfolio Solutions LLC bought a new position in TransAlta in the 4th quarter worth approximately $147,000. Private Advisor Group LLC increased its position in TransAlta by 64.9% in the 1st quarter. Private Advisor Group LLC now owns 17,525 shares of the utilities provider's stock worth $164,000 after buying an additional 6,900 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in TransAlta in the 4th quarter worth approximately $167,000. 59.00% of the stock is owned by institutional investors.
TransAlta Stock Up 1.5%
Shares of NYSE:TAC opened at $12.56 on Tuesday. TransAlta Corporation has a 52 week low of $7.40 and a 52 week high of $14.64. The company has a debt-to-equity ratio of 4.19, a quick ratio of 0.78 and a current ratio of 0.84. The company's fifty day moving average is $11.15 and its 200-day moving average is $10.27. The company has a market capitalization of $3.72 billion, a PE ratio of -29.89 and a beta of 0.75.
TransAlta (NYSE:TAC - Get Free Report) TSE: TA last issued its earnings results on Friday, August 1st. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.07 by $0.06. TransAlta had a negative net margin of 6.79% and a negative return on equity of 1.95%. The company had revenue of $451.20 million for the quarter, compared to the consensus estimate of $473.94 million. Equities research analysts predict that TransAlta Corporation will post 0.41 earnings per share for the current fiscal year.
TransAlta Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 1st will be paid a $0.065 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.26 annualized dividend and a dividend yield of 2.1%. This is a boost from TransAlta's previous quarterly dividend of $0.05. TransAlta's dividend payout ratio is presently -950.00%.
Analyst Ratings Changes
A number of analysts have recently issued reports on TAC shares. Royal Bank Of Canada lowered their price objective on TransAlta from $23.00 to $20.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. Wall Street Zen upgraded TransAlta from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Jefferies Financial Group upgraded TransAlta from a "hold" rating to a "buy" rating in a research note on Thursday, June 12th. Finally, Scotiabank upgraded TransAlta from a "sector perform" rating to a "sector outperform" rating and upped their target price for the company from $16.00 to $20.00 in a research note on Friday, July 18th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.83.
View Our Latest Report on TAC
About TransAlta
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding TAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider TransAlta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TransAlta wasn't on the list.
While TransAlta currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
