TransAlta Corporation $TAC Shares Sold by Intact Investment Management Inc.

Key Points

• Intact Investment Management trimmed its TransAlta stake by 26.1%, selling 151,150 shares and now holding 428,800 shares (about 0.14% of the company) valued at roughly $5.42M.
• TransAlta missed quarterly results, reporting EPS of -$0.04 versus $0.05 expected and revenue of $436.1M versus $493.4M, resulting in a negative net margin despite a positive return on equity.
• The company declared a quarterly dividend of $0.07 (annualized $0.28, ~2.2% yield), while analysts' consensus remains a "Moderate Buy" with a $21.33 target price.

Intact Investment Management Inc. trimmed its position in shares of TransAlta Corporation (NYSE:TAC - Free Report) TSE: TA by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 428,800 shares of the utilities provider's stock after selling 151,150 shares during the period. Intact Investment Management Inc. owned approximately 0.14% of TransAlta worth $5,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new position in TransAlta in the 4th quarter valued at about $50,000. Warren Street Wealth Advisors LLC purchased a new stake in shares of TransAlta during the fourth quarter worth about $129,000. Sage Rhino Capital LLC purchased a new stake in shares of TransAlta during the third quarter worth about $139,000. Swiss Life Asset Management Ltd acquired a new position in shares of TransAlta in the third quarter worth about $176,000. Finally, Tudor Investment Corp ET AL purchased a new position in TransAlta in the third quarter valued at about $189,000. Hedge funds and other institutional investors own 59.00% of the company's stock.

TransAlta Trading Up 0.8%

NYSE:TAC opened at $12.57 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 6.54. The business's 50 day moving average is $12.95 and its two-hundred day moving average is $13.68. TransAlta Corporation has a 52 week low of $8.34 and a 52 week high of $17.88. The company has a market cap of $3.74 billion, a PE ratio of -26.75 and a beta of 0.66.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last issued its quarterly earnings results on Friday, February 27th. The utilities provider reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.09). The firm had revenue of $436.10 million during the quarter, compared to the consensus estimate of $493.39 million. TransAlta had a negative net margin of 7.51% and a positive return on equity of 10.00%. On average, analysts predict that TransAlta Corporation will post 0.22 EPS for the current year.

TransAlta Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, June 1st. This is a positive change from TransAlta's previous quarterly dividend of $0.07. This represents a $0.28 annualized dividend and a yield of 2.2%. TransAlta's payout ratio is presently -40.43%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on TAC shares. National Bank Financial upgraded TransAlta from a "sector perform" rating to an "outperform" rating in a research note on Tuesday, March 24th. Weiss Ratings reiterated a "sell (d+)" rating on shares of TransAlta in a research note on Monday, April 20th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of TransAlta in a research note on Thursday, April 16th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $24.00 price target on shares of TransAlta in a report on Tuesday, March 24th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, TransAlta currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.33.

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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