TransAlta (NYSE:TAC) Reaches New 52-Week High – What’s Next?

TransAlta Co. (NYSE:TAC) (TSE:TA)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.13 and last traded at $11.09, with a volume of 582409 shares changing hands. The stock had previously closed at $10.87.

Wall Street Analyst Weigh In

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

TransAlta Stock Performance

The company has a market capitalization of $3.31 billion, a P/E ratio of 29.97 and a beta of 0.92. The business has a 50 day moving average of $10.40 and a 200 day moving average of $8.65. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94.

TransAlta Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.59%. TransAlta’s dividend payout ratio is currently 45.95%.

Institutional Investors Weigh In On TransAlta

Several large investors have recently bought and sold shares of TAC. Clear Harbor Asset Management LLC purchased a new position in shares of TransAlta in the 2nd quarter worth $514,000. Skandinaviska Enskilda Banken AB publ lifted its holdings 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 acquiring an additional 79,000 shares during the last quarter. Clayton Partners LLC grew its position in TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock worth $3,244,000 after acquiring an additional 439,013 shares in the last quarter. Rubric Capital Management LP increased its stake in TransAlta by 20.0% during the third quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock worth $58,254,000 after acquiring an additional 935,803 shares during the last quarter. Finally, National Bank of Canada FI raised its position in 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 purchasing an additional 299,594 shares during the period. Institutional investors own 59.00% of the company’s stock.

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.