Two Sigma Investments LP Cuts Stake in TransAlta Co. (NYSE:TAC)

Two Sigma Investments LP cut its holdings in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 41.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 753,836 shares of the utilities provider’s stock after selling 531,561 shares during the period. Two Sigma Investments LP owned approximately 0.26% of TransAlta worth $3,090,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC purchased a new position in TransAlta during the fourth quarter worth about $195,000. Jane Street Group LLC boosted its holdings in TransAlta by 285.9% during the third quarter. Jane Street Group LLC now owns 51,116 shares of the utilities provider’s stock worth $288,000 after purchasing an additional 37,871 shares during the last quarter. Citigroup Inc. boosted its holdings in TransAlta by 9.3% during the fourth quarter. Citigroup Inc. now owns 90,938 shares of the utilities provider’s stock worth $371,000 after purchasing an additional 7,725 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in TransAlta by 47.1% during the third quarter. Russell Investments Group Ltd. now owns 71,295 shares of the utilities provider’s stock worth $397,000 after purchasing an additional 22,825 shares during the last quarter. Finally, QS Investors LLC purchased a new position in TransAlta during the fourth quarter worth about $1,849,000. 47.97% of the stock is owned by institutional investors.

TAC traded down $0.21 during midday trading on Friday, reaching $7.05. The company had a trading volume of 270,123 shares, compared to its average volume of 167,808. The company has a quick ratio of 1.23, a current ratio of 1.50 and a debt-to-equity ratio of 0.98. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -13.30 and a beta of 1.47. TransAlta Co. has a 12-month low of $3.99 and a 12-month high of $7.61.

TransAlta (NYSE:TAC) (TSE:TA) last released its earnings results on Wednesday, February 27th. The utilities provider reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.41). TransAlta had a negative net margin of 8.62% and a negative return on equity of 4.24%. The company had revenue of $470.69 million during the quarter. As a group, sell-side analysts anticipate that TransAlta Co. will post 0.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.03 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.12 annualized dividend and a dividend yield of 1.70%. This is a positive change from TransAlta’s previous quarterly dividend of $0.03. TransAlta’s payout ratio is -22.64%.

Several research analysts recently weighed in on TAC shares. Industrial Alliance Securities upgraded shares of TransAlta to a “buy” rating in a report on Tuesday, March 26th. TD Securities upgraded shares of TransAlta from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th. Zacks Investment Research upgraded shares of TransAlta from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a research note on Wednesday, March 6th. Credit Suisse Group upgraded shares of TransAlta from an “underperform” rating to a “neutral” rating in a research note on Monday, March 18th. Finally, National Bank Financial upgraded shares of TransAlta from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 23rd. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $6.75.

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About TransAlta

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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