TransAlta (NYSE:TAC) Sees Large Volume Increase

TransAlta Co. (NYSE:TAC - Get Free Report) TSE: TA saw an uptick in trading volume on Friday . 807,739 shares traded hands during trading, an increase of 8% from the previous session's volume of 746,657 shares.The stock last traded at $7.20 and had previously closed at $7.22.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered TransAlta from a "strong-buy" rating to a "buy" rating in a report on Friday, January 12th.

TransAlta Stock Down 1.5 %

The company has a debt-to-equity ratio of 4.06, a current ratio of 0.91 and a quick ratio of 0.82. The company has a market cap of $2.18 billion, a PE ratio of 4.66 and a beta of 0.83. The company has a fifty day moving average price of $6.55 and a 200 day moving average price of $7.31.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last issued its quarterly earnings data on Friday, February 23rd. The utilities provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.30). TransAlta had a return on equity of 43.02% and a net margin of 18.70%. The business had revenue of $624.00 million for the quarter, compared to analysts' expectations of $305.79 million. During the same period in the previous year, the firm posted ($0.45) EPS. The firm's revenue for the quarter was down 26.9% compared to the same quarter last year. As a group, analysts anticipate that TransAlta Co. will post 0.51 EPS for the current year.

TransAlta Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 1st will be given a dividend of $0.0438 per share. This represents a $0.18 annualized dividend and a yield of 2.46%. This is a positive change from TransAlta's previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Friday, May 31st. TransAlta's dividend payout ratio is presently 10.97%.

Institutional Trading of TransAlta

Several institutional investors have recently added to or reduced their stakes in TAC. NBC Securities Inc. boosted its position in TransAlta by 156.3% during the first quarter. NBC Securities Inc. now owns 4,100 shares of the utilities provider's stock valued at $26,000 after buying an additional 2,500 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of TransAlta during the fourth quarter worth about $33,000. Janney Montgomery Scott LLC purchased a new position in TransAlta during the 1st quarter valued at about $66,000. Calton & Associates Inc. bought a new position in TransAlta during the 4th quarter valued at approximately $93,000. Finally, 1832 Asset Management L.P. lifted its holdings in TransAlta by 50.3% in the 4th quarter. 1832 Asset Management L.P. now owns 11,576 shares of the utilities provider's stock worth $96,000 after buying an additional 3,876 shares during the period. 59.00% of the stock is currently owned by hedge funds and other institutional investors.

About TransAlta

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.

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