TransAlta Corporation $TAC Holdings Lifted by Greenland Capital Management LP

Greenland Capital Management LP boosted its holdings in TransAlta Corporation (NYSE:TAC) (TSE:TA) by 107.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 181,126 shares of the utilities provider’s stock after acquiring an additional 93,976 shares during the quarter. Greenland Capital Management LP owned 0.06% of TransAlta worth $1,950,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TAC. Sowell Financial Services LLC increased its stake in shares of TransAlta by 6.0% during the second quarter. Sowell Financial Services LLC now owns 23,892 shares of the utilities provider’s stock valued at $258,000 after acquiring an additional 1,359 shares during the period. Creative Planning increased its position in shares of TransAlta by 6.9% during the 2nd quarter. Creative Planning now owns 51,336 shares of the utilities provider’s stock valued at $554,000 after purchasing an additional 3,322 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of TransAlta by 48,666.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,389 shares of the utilities provider’s stock worth $41,000 after buying an additional 4,380 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of TransAlta by 3.5% in the second quarter. Geode Capital Management LLC now owns 152,816 shares of the utilities provider’s stock valued at $1,660,000 after buying an additional 5,214 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of TransAlta by 6.7% in the second quarter. Public Employees Retirement System of Ohio now owns 107,868 shares of the utilities provider’s stock valued at $1,161,000 after buying an additional 6,801 shares during the period. 59.00% of the stock is owned by institutional investors and hedge funds.

TransAlta Stock Performance

Shares of TAC opened at $14.42 on Wednesday. TransAlta Corporation has a 52 week low of $7.82 and a 52 week high of $17.88. The company has a debt-to-equity ratio of 4.98, a quick ratio of 0.72 and a current ratio of 0.79. The company has a market capitalization of $4.28 billion, a PE ratio of -34.32 and a beta of 0.80. The company’s 50 day moving average price is $15.21 and its 200 day moving average price is $12.53.

TransAlta (NYSE:TAC) (TSE:TA) last posted its quarterly earnings results on Thursday, November 6th. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.07). TransAlta had a negative net margin of 6.79% and a negative return on equity of 2.06%. The company had revenue of $441.57 million for the quarter, compared to analysts’ expectations of $558.84 million. Research analysts expect that TransAlta Corporation will post 0.41 EPS for the current fiscal year.

TransAlta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 1st will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.26 dividend on an annualized basis and a dividend yield of 1.8%. TransAlta’s dividend payout ratio (DPR) is -37.50%.

Analysts Set New Price Targets

Several brokerages have commented on TAC. Zacks Research cut shares of TransAlta from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 6th. Royal Bank Of Canada reissued an “outperform” rating on shares of TransAlta in a research note on Monday, November 10th. Weiss Ratings restated a “sell (d+)” rating on shares of TransAlta in a report on Wednesday, October 8th. Scotiabank reaffirmed an “outperform” rating on shares of TransAlta in a report on Monday, October 6th. Finally, TD Securities reissued a “buy” rating and set a $20.00 price objective (up from $19.00) on shares of TransAlta in a research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.88.

TransAlta 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.