Jupiter Topco LLC Takes $1.43 Million Position in TransAlta Corporation $TAC

Key Points

• Jupiter Topco LLC acquired 104,287 TransAlta shares during the second quarter, representing a new position valued at approximately $1.43 million. Institutional investors collectively own about 59% of the company.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $24.50, although ratings range from Strong Buy to Sell.
• TransAlta’s latest quarterly earnings beat expectations at $0.13 per share versus $0.11 forecast, while the company declared a quarterly dividend of $0.07 per share, equating to a 2.3% annualized yield.

Jupiter Topco LLC purchased a new stake in shares of TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 104,287 shares of the utilities provider's stock, valued at approximately $1,434,000.

Other large investors have also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new position in TransAlta in the second quarter worth $29,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TransAlta during the fourth quarter worth $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of TransAlta by 37.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider's stock worth $38,000 after purchasing an additional 812 shares during the period. Ritter Alpha LP bought a new position in shares of TransAlta in the 4th quarter worth about $131,000. Finally, Sage Rhino Capital LLC boosted its holdings in shares of TransAlta by 8.7% in the 1st quarter. Sage Rhino Capital LLC now owns 11,078 shares of the utilities provider's stock valued at $145,000 after buying an additional 882 shares during the period. 59.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TAC shares. Scotiabank upgraded shares of TransAlta to a "strong-buy" rating in a research note on Wednesday, June 10th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of TransAlta in a research note on Friday, July 17th. Zacks Research raised TransAlta from a "strong sell" rating to a "hold" rating in a report on Monday, August 17th. Weiss Ratings cut TransAlta from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 18th. Finally, TD Cowen started coverage on TransAlta in a report on Wednesday, June 10th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $24.50.

TransAlta Trading Up 1.4%

NYSE:TAC opened at $11.98 on Friday. TransAlta Corporation has a 1 year low of $11.38 and a 1 year high of $17.88. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -66.55 and a beta of 0.70. The business has a fifty day moving average of $12.98 and a 200-day moving average of $13.08. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.77 and a current ratio of 0.84.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last released its earnings results on Friday, July 31st. The utilities provider reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. TransAlta had a negative net margin of 2.76% and a positive return on equity of 8.85%. The firm had revenue of $342.85 million for the quarter, compared to analysts' expectations of $379.54 million. Equities analysts predict that TransAlta Corporation will post 0.21 earnings per share for the current year.

TransAlta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.07 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.28 annualized dividend and a dividend yield of 2.3%. TransAlta's dividend payout ratio (DPR) is -111.11%.

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.

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