Fmr LLC Increases Stock Position in TransAlta Co. (NYSE:TAC)

Fmr LLC raised its stake in TransAlta Co. (NYSE:TAC) (TSE:TA) by 9.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,593,023 shares of the utilities provider’s stock after acquiring an additional 408,184 shares during the period. Fmr LLC owned 1.54% of TransAlta worth $47,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Clear Harbor Asset Management LLC purchased a new position in TransAlta during the 2nd quarter worth approximately $514,000. Skandinaviska Enskilda Banken AB publ grew its position in shares of TransAlta by 122.7% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider’s stock worth $1,015,000 after acquiring an additional 79,000 shares during the last quarter. Clayton Partners LLC increased its holdings in shares of TransAlta by 2,293.5% in 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. National Bank of Canada FI raised its position in TransAlta by 9.0% in the 2nd 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 during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in TransAlta by 22.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 929,631 shares of the utilities provider’s stock valued at $6,582,000 after purchasing an additional 169,219 shares during the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on TAC shares. StockNews.com lowered shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Scotiabank raised TransAlta to a “strong-buy” rating in a report on Thursday. Finally, Desjardins reissued a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

TransAlta Price Performance

Shares of NYSE TAC opened at $13.48 on Friday. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. TransAlta Co. has a one year low of $5.94 and a one year high of $13.53. The firm has a market capitalization of $4.02 billion, a P/E ratio of 36.43 and a beta of 0.91. The company’s fifty day moving average is $10.62 and its two-hundred day moving average is $8.86.

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 issued a $0.044 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.31%. TransAlta’s dividend payout ratio (DPR) is presently 45.95%.

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.