TransAlta’s (TAC) “Hold” Rating Reaffirmed at Desjardins

Desjardins reaffirmed their hold rating on shares of TransAlta (NYSE:TAC) (TSE:TA) in a report released on Wednesday, MarketBeat reports.

Separately, StockNews.com lowered shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 25th.

TransAlta Stock Performance

TransAlta stock opened at $10.30 on Wednesday. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.75. TransAlta has a 1-year low of $5.94 and a 1-year high of $11.10. The firm has a market capitalization of $3.07 billion, a P/E ratio of 27.84 and a beta of 0.92. The company’s 50-day moving average is $9.99 and its 200 day moving average is $8.30.

TransAlta Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be paid a $0.044 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.71%. TransAlta’s dividend payout ratio is currently 45.95%.

Hedge Funds Weigh In On TransAlta

A number of hedge funds have recently added to or reduced their stakes in TAC. Jupiter Asset Management Ltd. bought a new position in TransAlta in the 1st quarter worth about $3,779,000. Clayton Partners LLC boosted its stake in shares of TransAlta by 2,293.5% during the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after purchasing an additional 439,013 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of TransAlta during the first quarter valued at approximately $2,246,000. National Bank of Canada FI boosted its stake in shares of TransAlta by 9.0% during the second quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock valued at $25,267,000 after purchasing an additional 299,594 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of TransAlta by 71.9% during the first quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider’s stock valued at $4,131,000 after purchasing an additional 269,444 shares in the last quarter. 59.00% of the stock is currently owned by institutional investors.

TransAlta Company Profile

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.