Dimensional Fund Advisors LP grew its holdings in TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 6.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,629,540 shares of the utilities provider's stock after buying an additional 91,665 shares during the quarter. Dimensional Fund Advisors LP owned about 0.55% of TransAlta worth $21,343,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Rubric Capital Management LP grew its holdings in TransAlta by 11.5% during the fourth quarter. Rubric Capital Management LP now owns 17,781,325 shares of the utilities provider's stock worth $224,756,000 after acquiring an additional 1,832,874 shares during the period. Bank of Montreal Can lifted its holdings in TransAlta by 27.5% in the fourth quarter. Bank of Montreal Can now owns 13,295,335 shares of the utilities provider's stock valued at $168,163,000 after acquiring an additional 2,870,026 shares during the period. Vanguard Group Inc. lifted its holdings in TransAlta by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 11,123,833 shares of the utilities provider's stock valued at $140,694,000 after acquiring an additional 174,449 shares during the period. Norges Bank purchased a new stake in shares of TransAlta during the 4th quarter worth $45,298,000. Finally, Sculptor Capital LP purchased a new stake in shares of TransAlta during the 4th quarter worth $37,958,000. 59.00% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. TD Cowen began coverage on shares of TransAlta in a report on Wednesday, June 10th. They issued a "buy" rating for the company. Weiss Ratings raised shares of TransAlta from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Scotiabank upgraded shares of TransAlta to a "strong-buy" rating in a research report on Wednesday, June 10th. TD Securities restated a "buy" rating on shares of TransAlta in a research report on Thursday, May 7th. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of TransAlta in a report on Friday, July 17th. One equities 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 stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.50.
Read Our Latest Analysis on TransAlta
TransAlta Stock Down 1.8%
TransAlta stock opened at $12.45 on Friday. TransAlta Corporation has a fifty-two week low of $11.38 and a fifty-two week high of $17.88. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -69.14 and a beta of 0.70. The stock's fifty day moving average is $13.49 and its two-hundred day moving average is $13.19. The company has a debt-to-equity ratio of 3.64, a quick ratio of 0.70 and a current ratio of 0.84.
TransAlta (NYSE:TAC - Get Free Report) TSE: TA last released its quarterly earnings results on Friday, July 31st. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $342.85 million during the quarter, compared to the consensus estimate of $379.54 million. TransAlta had a positive return on equity of 8.85% and a negative net margin of 2.76%. Analysts predict that TransAlta Corporation will post 0.21 EPS for the current fiscal year.
TransAlta Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.28 dividend on an annualized basis and a yield of 2.2%. TransAlta's payout ratio is presently -105.56%.
TransAlta Profile
(
Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
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 Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
