Creative Planning Purchases 3,492 Shares of TransAlta Co. (NYSE:TAC)

Creative Planning increased its position in TransAlta Co. (NYSE:TAC) (TSE:TA) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,803 shares of the utilities provider’s stock after purchasing an additional 3,492 shares during the period. Creative Planning’s holdings in TransAlta were worth $557,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Clear Harbor Asset Management LLC bought a new position in TransAlta in the 2nd quarter worth about $514,000. Jupiter Asset Management Ltd. bought a new position in TransAlta during the 1st quarter valued at about $3,779,000. Skandinaviska Enskilda Banken AB publ lifted its stake in TransAlta by 122.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider’s stock valued at $1,015,000 after acquiring an additional 79,000 shares during the period. Clayton Partners LLC lifted its stake in TransAlta by 2,293.5% during the 2nd quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after acquiring an additional 439,013 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in TransAlta by 71.9% during the 1st quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider’s stock valued at $4,131,000 after acquiring an additional 269,444 shares during the period. Institutional investors own 59.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th. Desjardins assumed coverage on shares of TransAlta in a research note on Wednesday, October 30th. They set a “buy” rating on the stock.

TransAlta Price Performance

NYSE TAC opened at $11.08 on Wednesday. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $11.10. The firm has a market capitalization of $3.30 billion, a P/E ratio of 7.33 and a beta of 0.92. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. The company has a 50-day moving average price of $9.90 and a 200-day moving average price of $8.23.

TransAlta Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be given a dividend of $0.044 per share. This represents a $0.18 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s payout ratio is currently 11.26%.

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.