491,141 Shares in TransAlta Co. (NYSE:TAC) Acquired by Potrero Capital Research LLC

Potrero Capital Research LLC purchased a new position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 491,141 shares of the utilities provider’s stock, valued at approximately $5,088,000. TransAlta accounts for 1.6% of Potrero Capital Research LLC’s holdings, making the stock its 21st biggest position.

Other institutional investors have also added to or reduced their stakes in the company. Clear Harbor Asset Management LLC purchased a new stake in shares of TransAlta in the second quarter worth approximately $514,000. Skandinaviska Enskilda Banken AB publ increased 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 valued at $1,015,000 after acquiring an additional 79,000 shares during the last quarter. Clayton Partners LLC increased its position 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 acquiring an additional 439,013 shares during the last quarter. Rubric Capital Management LP increased its position in shares of TransAlta by 20.0% during the third quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock valued at $58,254,000 after acquiring an additional 935,803 shares during the last quarter. Finally, National Bank of Canada FI increased its position 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 acquiring an additional 299,594 shares during the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

TransAlta Price Performance

NYSE:TAC opened at $11.53 on Wednesday. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 31.16 and a beta of 0.91. TransAlta Co. has a 52-week low of $5.94 and a 52-week high of $11.71. The stock has a fifty day moving average of $10.48 and a 200 day moving average of $8.76. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be paid a dividend of $0.044 per share. This represents a $0.18 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio is 48.65%.

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.