TransAlta (NYSE:TAC) Trading 5.7% Higher – What’s Next?

TransAlta Co. (NYSE:TAC) (TSE:TA)’s share price was up 5.7% on Thursday . The company traded as high as $12.39 and last traded at $12.34. Approximately 313,180 shares were traded during trading, a decline of 59% from the average daily volume of 764,892 shares. The stock had previously closed at $11.68.

Analyst Ratings Changes

A number of analysts have weighed in on TAC shares. StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. Desjardins restated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th.

TransAlta Stock Performance

The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The firm has a 50-day moving average of $10.51 and a 200-day moving average of $8.78. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of 33.35 and a beta of 0.91.

TransAlta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders 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 yield of 1.44%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio is currently 48.65%.

Institutional Investors Weigh In On TransAlta

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TAC. Clear Harbor Asset Management LLC purchased a new stake in shares of TransAlta during the 2nd quarter worth about $514,000. Skandinaviska Enskilda Banken AB publ increased its stake in shares of TransAlta by 122.7% in 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 purchasing an additional 79,000 shares in the last quarter. Clayton Partners LLC increased its stake 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 purchasing an additional 439,013 shares in the last quarter. Rubric Capital Management LP increased its stake in shares of TransAlta by 20.0% in the 3rd quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock valued at $58,254,000 after purchasing an additional 935,803 shares in the last quarter. Finally, National Bank of Canada FI increased its stake in shares of 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 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.