TransAlta (NYSE:TAC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of TransAlta (NYSE:TAC) (TSE:TA) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Other equities research analysts have also recently issued research reports about the company. Scotiabank upgraded TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. Desjardins reissued a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th.

TransAlta Stock Performance

TAC opened at $14.24 on Friday. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 38.49 and a beta of 0.91. The business’s 50-day moving average price is $11.56 and its two-hundred day moving average price is $9.49. TransAlta has a 1 year low of $5.94 and a 1 year high of $14.64.

TransAlta Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Saturday, March 1st will be given a $0.0423 dividend. This represents a $0.17 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Friday, February 28th. TransAlta’s dividend payout ratio is currently 45.95%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Yaupon Capital Management LP raised its stake in shares of TransAlta by 69.9% during the 3rd quarter. Yaupon Capital Management LP now owns 2,685,955 shares of the utilities provider’s stock worth $27,840,000 after purchasing an additional 1,105,191 shares in the last quarter. Rubric Capital Management LP raised its position 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 in the last quarter. Potrero Capital Research LLC bought a new stake in TransAlta during the third quarter worth $5,088,000. Clayton Partners LLC lifted its stake in TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after acquiring an additional 439,013 shares during the last quarter. Finally, FMR LLC grew its position in shares of TransAlta by 9.8% in the 3rd quarter. FMR LLC now owns 4,593,023 shares of the utilities provider’s stock valued at $47,613,000 after acquiring an additional 408,184 shares during the period. 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.