TransAlta Corporation Announces Quarterly Dividend of C$0.07 (NYSE:TAC)

TransAlta Corporation (NYSE:TAC) (TSE:TA) declared a quarterly dividend on Friday, December 12th. Stockholders of record on Sunday, March 1st will be given a dividend of 0.065 per share by the utilities provider on Wednesday, April 1st. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, February 27th.

TransAlta has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 2 years. TransAlta has a payout ratio of 105.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect TransAlta to earn $0.44 per share next year, which means the company should continue to be able to cover its $0.18 annual dividend with an expected future payout ratio of 40.9%.

TransAlta Stock Down 0.6%

Shares of TAC stock traded down $0.08 during trading hours on Wednesday, hitting $12.97. 109,651 shares of the company were exchanged, compared to its average volume of 1,473,344. TransAlta has a 52 week low of $7.82 and a 52 week high of $17.88. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 5.22. The business has a 50 day moving average of $12.87 and a two-hundred day moving average of $13.77. The company has a market capitalization of $3.85 billion, a PE ratio of -26.90 and a beta of 0.78.

Institutional Investors Weigh In On TransAlta

A number of institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in TransAlta in the 4th quarter valued at about $37,000. EverSource Wealth Advisors LLC raised its stake in TransAlta by 37.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock valued at $38,000 after buying an additional 812 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of TransAlta in the fourth quarter valued at approximately $50,000. Savant Capital LLC bought a new position in shares of TransAlta during the 2nd quarter worth approximately $127,000. Finally, Warren Street Wealth Advisors LLC bought a new position in shares of TransAlta during the 4th quarter worth approximately $129,000. 59.00% of the stock is owned by institutional investors.

About TransAlta

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.