TransAlta Co. (NYSE:TAC) Shares Acquired by Potrero Capital Research LLC

Potrero Capital Research LLC increased its holdings in TransAlta Co. (NYSE:TAC - Free Report) TSE: TA by 373.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,323,944 shares of the utilities provider's stock after buying an additional 1,832,803 shares during the quarter. TransAlta accounts for about 11.0% of Potrero Capital Research LLC's investment portfolio, making the stock its largest position. Potrero Capital Research LLC owned approximately 0.78% of TransAlta worth $32,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Tobam bought a new stake in TransAlta during the 4th quarter worth approximately $46,000. Ballentine Partners LLC purchased a new stake in shares of TransAlta in the fourth quarter worth $145,000. Orion Portfolio Solutions LLC bought a new stake in shares of TransAlta during the 4th quarter valued at $147,000. Private Advisor Group LLC bought a new stake in shares of TransAlta during the 4th quarter valued at $150,000. Finally, Sage Investment Counsel LLC purchased a new position in shares of TransAlta during the 4th quarter valued at $156,000. 59.00% of the stock is owned by hedge funds and other institutional investors.

TransAlta Price Performance

Shares of TAC traded up $0.11 during mid-day trading on Tuesday, hitting $9.07. 301,410 shares of the stock were exchanged, compared to its average volume of 1,148,366. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. The company has a market cap of $2.69 billion, a PE ratio of 22.11 and a beta of 0.71. TransAlta Co. has a 52-week low of $6.78 and a 52-week high of $14.64. The firm has a 50-day moving average of $9.02 and a two-hundred day moving average of $10.84.

TransAlta (NYSE:TAC - Get Free Report) TSE: TA last announced its quarterly earnings data on Wednesday, May 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.02). The firm had revenue of $526.69 million during the quarter, compared to the consensus estimate of $509.31 million. TransAlta had a return on equity of 18.47% and a net margin of 6.38%. On average, equities analysts predict that TransAlta Co. will post 0.41 earnings per share for the current year.

TransAlta Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Sunday, June 1st will be issued a $0.0458 dividend. This represents a $0.18 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, May 30th. This is an increase from TransAlta's previous quarterly dividend of $0.04. TransAlta's dividend payout ratio (DPR) is currently -900.00%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TAC. CIBC upgraded TransAlta from a "neutral" rating to an "outperformer" rating and cut their price target for the stock from $23.00 to $19.50 in a research note on Tuesday, February 18th. Cibc World Mkts raised TransAlta from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 18th. Scotiabank downgraded TransAlta from a "sector outperform" rating to a "sector perform" rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of TransAlta from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, Royal Bank of Canada lowered their target price on shares of TransAlta from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, TransAlta currently has an average rating of "Moderate Buy" and an average price target of $19.75.

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.