DORCHESTER WEALTH MANAGEMENT Co Has $1.47 Million Stock Position in TransAlta Co. (NYSE:TAC)

DORCHESTER WEALTH MANAGEMENT Co lessened its holdings in TransAlta Co. (NYSE:TAC) (TSE:TA) by 3.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,800 shares of the utilities provider’s stock after selling 5,600 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TransAlta were worth $1,470,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clear Harbor Asset Management LLC bought a new stake in TransAlta during the 2nd quarter worth about $514,000. Vanguard Group Inc. raised its holdings in TransAlta by 25.3% during the fourth quarter. Vanguard Group Inc. now owns 10,498,451 shares of the utilities provider’s stock worth $87,242,000 after acquiring an additional 2,116,907 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in TransAlta during the first quarter valued at approximately $3,779,000. Clayton Partners LLC grew 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 purchasing an additional 439,013 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of TransAlta by 122.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider’s stock worth $1,015,000 after purchasing an additional 79,000 shares during the last quarter. Institutional investors own 59.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

TransAlta Stock Performance

Shares of TAC traded up $0.03 during midday trading on Thursday, reaching $10.17. The stock had a trading volume of 33,613 shares, compared to its average volume of 744,749. The company has a current ratio of 0.84, a quick ratio of 0.75 and a debt-to-equity ratio of 3.43. The firm has a 50 day simple moving average of $9.58 and a 200-day simple moving average of $7.96. The firm has a market cap of $3.03 billion, a PE ratio of 6.72 and a beta of 0.92. TransAlta Co. has a one year low of $5.94 and a one year high of $10.73.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. The firm had revenue of $425.37 million for the quarter. During the same period last year, the firm earned $0.17 EPS. As a group, sell-side analysts anticipate that TransAlta Co. will post 0.75 EPS for the current year.

TransAlta Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Sunday, September 1st were given a dividend of $0.044 per share. This represents a $0.18 dividend on an annualized basis and a yield of 1.73%. This is a boost from TransAlta’s previous quarterly dividend of $0.04. The ex-dividend date was Friday, August 30th. TransAlta’s payout ratio is 11.26%.

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.