State Street Corp Sells 23,698 Shares of TransAlta Co. (NYSE:TAC)

State Street Corp decreased its holdings in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 984,607 shares of the utilities provider’s stock after selling 23,698 shares during the period. State Street Corp owned 0.33% of TransAlta worth $10,245,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. bought a new stake in TransAlta in the third quarter valued at $42,000. Quantbot Technologies LP acquired a new stake in shares of TransAlta in the 3rd quarter valued at about $61,000. Evergreen Capital Management LLC bought a new stake in TransAlta in the 2nd quarter valued at about $72,000. Sage Rhino Capital LLC acquired a new position in TransAlta during the 2nd quarter worth approximately $79,000. Finally, Entropy Technologies LP bought a new position in TransAlta in the third quarter worth approximately $130,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TAC shares. Desjardins restated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th. StockNews.com upgraded shares of TransAlta from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th.

TransAlta Stock Performance

Shares of TAC opened at $14.25 on Friday. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $14.64. 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 stock has a 50 day moving average price of $11.48 and a two-hundred day moving average price of $9.46. The firm has a market capitalization of $4.25 billion, a P/E ratio of 38.51 and a beta of 0.91.

TransAlta Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 1st will be given a $0.0423 dividend. This represents a $0.17 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Friday, February 28th. TransAlta’s payout ratio is currently 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.