TransAlta’s (TAC) “Hold” Rating Reaffirmed at Desjardins

Desjardins reiterated their hold rating on shares of TransAlta (NYSE:TAC) (TSE:TA) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports.

Separately, StockNews.com downgraded shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th.

TransAlta Price Performance

NYSE TAC opened at $10.30 on Wednesday. TransAlta has a 52 week low of $5.94 and a 52 week high of $11.10. The firm has a market capitalization of $3.07 billion, a P/E ratio of 27.84 and a beta of 0.92. The company has a quick ratio of 0.75, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. The company has a 50-day moving average price of $9.99 and a 200-day moving average price of $8.30.

TransAlta Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be issued a dividend of $0.044 per share. This represents a $0.18 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio (DPR) is presently 45.95%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PCJ Investment Counsel Ltd. bought a new position in shares of TransAlta during the 3rd quarter valued at about $2,573,000. Metis Global Partners LLC purchased a new stake in shares of TransAlta during the 3rd quarter valued at about $360,000. Oppenheimer & Co. Inc. purchased a new stake in shares of TransAlta during the 3rd quarter valued at about $194,000. Entropy Technologies LP purchased a new stake in shares of TransAlta during the 3rd quarter valued at about $130,000. Finally, Tacita Capital Inc raised its position in shares of 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 buying an additional 25,626 shares in the last quarter. 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.