TransAlta (NYSE:TAC) Sets New 52-Week High – Should You Buy?

TransAlta Co. (NYSE:TAC) (TSE:TA)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $11.13 and last traded at $11.09, with a volume of 582409 shares. The stock had previously closed at $10.87.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TAC. StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Desjardins reiterated a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

TransAlta Trading Up 2.0 %

The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 29.38 and a beta of 0.92. The business has a 50-day moving average of $10.33 and a two-hundred day moving average of $8.61. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94.

TransAlta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be given a dividend of $0.044 per share. This represents a $0.18 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s dividend payout ratio (DPR) is presently 45.95%.

Institutional Investors Weigh In On TransAlta

A number of institutional investors have recently added to or reduced their stakes in TAC. Franklin Resources Inc. boosted its holdings in TransAlta by 190.6% during the third quarter. Franklin Resources Inc. now owns 147,669 shares of the utilities provider’s stock valued at $1,550,000 after purchasing an additional 96,856 shares in the last quarter. Barclays PLC boosted its holdings in TransAlta by 281.5% during the third quarter. Barclays PLC now owns 143,062 shares of the utilities provider’s stock valued at $1,482,000 after purchasing an additional 105,562 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of TransAlta by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 122,621 shares of the utilities provider’s stock worth $1,277,000 after acquiring an additional 2,524 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of TransAlta in the 3rd quarter worth approximately $1,812,000. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of TransAlta by 27.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 29,672 shares of the utilities provider’s stock worth $307,000 after acquiring an additional 6,385 shares in the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

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.