TransAlta (NYSE:TAC) Reaches New 52-Week High – What’s Next?

TransAlta Co. (NYSE:TAC) (TSE:TA) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $11.13 and last traded at $11.09, with a volume of 582409 shares traded. The stock had previously closed at $10.87.

Analyst Upgrades and Downgrades

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

TransAlta Stock Performance

The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. The business has a 50 day moving average price of $10.40 and a 200 day moving average price of $8.65. The stock has a market cap of $3.31 billion, a P/E ratio of 29.97 and a beta of 0.92.

TransAlta Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be given a $0.044 dividend. This represents a $0.18 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, November 29th. TransAlta’s dividend payout ratio (DPR) is presently 45.95%.

Institutional Trading of TransAlta

Several institutional investors and hedge funds have recently made changes to their positions in TAC. Yaupon Capital Management LP increased its stake in TransAlta by 69.9% in the 3rd quarter. Yaupon Capital Management LP now owns 2,685,955 shares of the utilities provider’s stock worth $27,840,000 after buying an additional 1,105,191 shares during the period. Rubric Capital Management LP grew its stake in TransAlta by 20.0% in the 3rd quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock worth $58,254,000 after acquiring an additional 935,803 shares in the last quarter. Potrero Capital Research LLC purchased a new position in shares of TransAlta during the third quarter worth approximately $5,088,000. Clayton Partners LLC raised its stake in shares of TransAlta by 2,293.5% during the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after acquiring an additional 439,013 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of TransAlta by 9.8% in the third quarter. FMR LLC now owns 4,593,023 shares of the utilities provider’s stock valued at $47,613,000 after purchasing an additional 408,184 shares during the period. 59.00% of the stock is currently owned by institutional investors.

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.