Mirabella Financial Services LLP Takes Position in TransAlta Co. (NYSE:TAC)

Mirabella Financial Services LLP acquired a new position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 19,292 shares of the utilities provider’s stock, valued at approximately $200,000.

A number of other hedge funds have also recently made changes to their positions in TAC. PCJ Investment Counsel Ltd. purchased a new stake in TransAlta in the third quarter valued at approximately $2,573,000. Metis Global Partners LLC purchased a new stake in shares of TransAlta in the 3rd quarter valued at $360,000. Oppenheimer & Co. Inc. acquired a new position in TransAlta during the 3rd quarter worth about $194,000. Entropy Technologies LP acquired a new position in TransAlta during the 3rd quarter worth about $130,000. Finally, Tacita Capital Inc boosted its holdings in TransAlta by 11.7% during the 3rd quarter. Tacita Capital Inc now owns 245,081 shares of the utilities provider’s stock valued at $2,544,000 after acquiring an additional 25,626 shares during the period. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Trading Up 0.4 %

NYSE:TAC opened at $10.80 on Tuesday. TransAlta Co. has a 12-month low of $5.94 and a 12-month high of $11.10. The firm has a market cap of $3.22 billion, a PE ratio of 28.92 and a beta of 0.92. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The stock has a fifty day moving average price of $10.27 and a 200 day moving average price of $8.56.

TransAlta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be paid a $0.044 dividend. This represents a $0.18 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s payout ratio is presently 45.95%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. StockNews.com lowered shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Desjardins reiterated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th.

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.