TD Waterhouse Canada Inc. Invests $28.58 Million in TransAlta Corporation $TAC

Key Points

• TD Waterhouse Canada acquired 332,341 TransAlta shares worth approximately $28.58 million, representing about 0.11% of the company. Institutional investors collectively own 59% of TransAlta.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $24.50, despite one sell rating and one hold rating.
• TransAlta reported quarterly EPS of $0.13, exceeding estimates of $0.11, but revenue fell short of expectations. The company also declared a quarterly dividend of $0.07 per share, equal to a 2.3% annualized yield.

TD Waterhouse Canada Inc. purchased a new position in shares of TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 332,341 shares of the utilities provider's stock, valued at approximately $28,581,000. TD Waterhouse Canada Inc. owned about 0.11% of TransAlta at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TAC. Persistent Asset Partners Ltd acquired a new stake in TransAlta during the 2nd quarter worth $29,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of TransAlta in the 4th quarter valued at $37,000. EverSource Wealth Advisors LLC lifted its stake in shares of TransAlta by 37.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider's stock valued at $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 $131,000. Finally, Sage Rhino Capital LLC boosted its position 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 worth $145,000 after purchasing an additional 882 shares during the last quarter. 59.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TAC. Weiss Ratings cut TransAlta from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 18th. Zacks Research upgraded shares of TransAlta from a "strong sell" rating to a "hold" rating in a research report on Monday, August 17th. TD Cowen started coverage on shares of TransAlta in a research note on Wednesday, June 10th. They set a "buy" rating on the stock. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of TransAlta in a research note on Friday, July 17th. Finally, BMO Capital Markets restated an "outperform" rating on shares of TransAlta in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.50.

TransAlta Stock 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 50-day moving average price of $12.98 and a two-hundred day moving average price of $13.08. 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 company has a current ratio of 0.84, a quick ratio of 0.77 and a debt-to-equity ratio of 3.64.

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

TransAlta Announces Dividend

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

TransAlta 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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