O Shaughnessy Asset Management LLC lifted its holdings in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 277,972.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,641 shares of the utilities provider’s stock after buying an additional 80,612 shares during the period. O Shaughnessy Asset Management LLC’s holdings in TransAlta were worth $804,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Jane Street Group LLC bought a new stake in TransAlta during the 1st quarter valued at $96,000. Shell Asset Management Co. increased its holdings in shares of TransAlta by 5.0% during the first quarter. Shell Asset Management Co. now owns 25,400 shares of the utilities provider’s stock valued at $240,000 after purchasing an additional 1,200 shares during the period. Versor Investments LP acquired a new position in shares of TransAlta during the second quarter valued at $279,000. BlackRock Inc. bought a new stake in shares of TransAlta during the first quarter valued at about $304,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in TransAlta by 21.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,508 shares of the utilities provider’s stock worth $308,000 after purchasing an additional 5,715 shares during the period. 60.28% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on the stock. Credit Suisse Group dropped their price target on shares of TransAlta from C$18.50 to C$18.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 25th. BMO Capital Markets upped their target price on TransAlta from C$14.50 to C$15.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 11th. TD Securities lifted their price target on TransAlta from C$15.00 to C$15.50 and gave the company a “buy” rating in a research report on Wednesday, August 11th. National Bank Financial upped their price objective on TransAlta from C$12.00 to C$13.00 and gave the company a “sector perform” rating in a report on Thursday, August 12th. Finally, Zacks Investment Research raised TransAlta from a “sell” rating to a “hold” rating in a research note on Tuesday, July 27th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, TransAlta currently has an average rating of “Buy” and a consensus price target of $15.07.
TransAlta (NYSE:TAC) (TSE:TA) last announced its earnings results on Monday, August 9th. The utilities provider reported $0.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.05. The company had revenue of $503.91 million for the quarter. TransAlta had a negative return on equity of 5.48% and a negative net margin of 12.87%. Analysts expect that TransAlta Co. will post 0.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Wednesday, September 1st will be given a $0.0361 dividend. This represents a $0.14 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, August 31st. TransAlta’s dividend payout ratio (DPR) is currently -36.84%.
TransAlta Company Profile
TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind & Solar, Hydro, Energy Marketing and Corporate. The Canadian Coal, U.S.
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