TransAlta (NYSE:TAC) Sets New 1-Year High – Here’s What Happened

Shares of TransAlta Co. (NYSE:TAC) (TSE:TA) reached a new 52-week high on Tuesday . The stock traded as high as $14.11 and last traded at $13.99, with a volume of 131028 shares traded. The stock had previously closed at $13.91.

Analyst Upgrades and Downgrades

TAC has been the subject of a number of research analyst reports. Desjardins reiterated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th. StockNews.com downgraded TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Finally, Scotiabank raised TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th.

TransAlta Stock Performance

The company has a 50 day simple moving average of $11.11 and a 200-day simple moving average of $9.22. The stock has a market capitalization of $4.16 billion, a P/E ratio of 37.73 and a beta of 0.91. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67.

TransAlta Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 1st will be issued a $0.0423 dividend. This represents a $0.17 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Friday, February 28th. TransAlta’s payout ratio is 45.95%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. purchased a new stake in shares of TransAlta during the 3rd quarter valued at $42,000. Blue Trust Inc. raised its holdings in shares of TransAlta by 1,381.5% during the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after buying an additional 3,951 shares in the last quarter. Quantbot Technologies LP purchased a new stake in TransAlta in the third quarter worth approximately $61,000. Evergreen Capital Management LLC bought a new position in TransAlta during the second quarter valued at approximately $72,000. Finally, Sage Rhino Capital LLC purchased a new position in shares of TransAlta during the second quarter worth approximately $79,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

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.