304,600 Shares in TransAlta Co. (NYSE:TAC) Purchased by Weiss Asset Management LP

Weiss Asset Management LP acquired a new stake in TransAlta Co. (NYSE:TAC) (TSE:TA) during the 1st quarter, Holdings Channel reports. The firm acquired 304,600 shares of the utilities provider’s stock, valued at approximately $2,241,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of TAC. Millennium Management LLC acquired a new position in shares of TransAlta in the fourth quarter worth $62,000. Shell Asset Management Co. raised its position in TransAlta by 15.5% in the first quarter. Shell Asset Management Co. now owns 24,600 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 3,300 shares in the last quarter. ARP Americas LP increased its holdings in shares of TransAlta by 33.1% during the first quarter. ARP Americas LP now owns 30,348 shares of the utilities provider’s stock worth $223,000 after buying an additional 7,548 shares in the last quarter. Qtron Investments LLC bought a new stake in shares of TransAlta during the first quarter valued at approximately $312,000. Finally, Geode Capital Management LLC bought a new position in TransAlta in the fourth quarter valued at approximately $195,000. Institutional investors own 49.95% of the company’s stock.

NYSE TAC opened at $6.48 on Monday. The stock has a market cap of $1.84 billion, a PE ratio of -12.23 and a beta of 1.31. TransAlta Co. has a 52 week low of $3.99 and a 52 week high of $7.61. The company has a quick ratio of 1.34, a current ratio of 1.63 and a debt-to-equity ratio of 1.04.

TransAlta (NYSE:TAC) (TSE:TA) last issued its quarterly earnings results on Tuesday, May 14th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.13). TransAlta had a negative return on equity of 8.73% and a negative net margin of 14.67%. The company had revenue of $487.41 million during the quarter. Sell-side analysts forecast that TransAlta Co. will post -0.1 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, May 31st. This is an increase from TransAlta’s previous quarterly dividend of $0.03. TransAlta’s dividend payout ratio (DPR) is currently -22.64%.

Several brokerages have issued reports on TAC. Industrial Alliance Securities upgraded shares of TransAlta to a “buy” rating in a research note on Tuesday, March 26th. TD Securities upgraded shares of TransAlta from a “hold” rating to a “buy” rating in a research report on Tuesday, March 26th. ValuEngine raised shares of TransAlta from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 20th. Zacks Investment Research lowered shares of TransAlta from a “buy” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, Credit Suisse Group upgraded shares of TransAlta from an “underperform” rating to a “neutral” rating in a report on Monday, March 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. TransAlta presently has a consensus rating of “Buy” and a consensus target price of $6.75.

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TransAlta Profile

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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