Spark Investment Management LLC Invests $956,000 in TransAlta Co. (TAC) Stock

Spark Investment Management LLC purchased a new stake in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 130,000 shares of the utilities provider’s stock, valued at approximately $956,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Intact Investment Management Inc. raised its holdings in TransAlta by 22.9% in the fourth quarter. Intact Investment Management Inc. now owns 1,355,300 shares of the utilities provider’s stock worth $7,549,000 after buying an additional 252,800 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of TransAlta by 7.1% in the third quarter. Vanguard Group Inc. now owns 7,152,115 shares of the utilities provider’s stock worth $40,255,000 after acquiring an additional 477,166 shares during the period. Morgan Stanley grew its stake in shares of TransAlta by 22.7% in the third quarter. Morgan Stanley now owns 1,163,665 shares of the utilities provider’s stock worth $6,549,000 after acquiring an additional 215,047 shares during the period. QS Investors LLC bought a new stake in shares of TransAlta in the fourth quarter worth approximately $1,849,000. Finally, JPMorgan Chase & Co. grew its stake in shares of TransAlta by 57.0% in the third quarter. JPMorgan Chase & Co. now owns 536,667 shares of the utilities provider’s stock worth $3,020,000 after acquiring an additional 194,850 shares during the period. 49.00% of the stock is owned by institutional investors.

Shares of NYSE TAC opened at $6.56 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.63 and a quick ratio of 1.23. The company has a market cap of $1.82 billion, a P/E ratio of -12.38 and a beta of 1.41. TransAlta Co. has a 12-month low of $3.99 and a 12-month high of $7.61.



TransAlta (NYSE:TAC) (TSE:TA) last announced its earnings results on Tuesday, May 14th. The utilities provider reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.13). The business had revenue of $487.41 million for the quarter. TransAlta had a negative net margin of 14.67% and a negative return on equity of 8.73%. Equities research analysts anticipate that TransAlta Co. will post -0.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.83%. This is a positive change from TransAlta’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend is Friday, May 31st. TransAlta’s payout ratio is -22.64%.

A number of analysts have recently commented on the stock. Industrial Alliance Securities upgraded shares of TransAlta to a “buy” rating in a research note on Tuesday, March 26th. TD Securities upgraded shares of TransAlta from a “hold” rating to a “buy” rating in a research note on Tuesday, March 26th. ValuEngine upgraded shares of TransAlta from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 20th. Zacks Investment Research lowered shares of TransAlta from a “buy” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, Credit Suisse Group upgraded shares of TransAlta from an “underperform” rating to a “neutral” rating in a research note on Monday, March 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $6.75.

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About TransAlta

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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