TransAlta’s (TAC) Hold Rating Reiterated at Desjardins

Desjardins restated their hold rating on shares of TransAlta (NYSE:TAC) (TSE:TA) in a research note released on Wednesday morning, MarketBeat Ratings reports.

Separately, StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 25th.

TransAlta Price Performance

Shares of NYSE:TAC traded up $0.23 during trading on Wednesday, hitting $10.66. 390,747 shares of the company were exchanged, compared to its average volume of 752,196. The business’s 50 day moving average is $9.93 and its 200-day moving average is $8.25. The company has a market capitalization of $3.18 billion, a P/E ratio of 6.90 and a beta of 0.92. The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. TransAlta has a 1-year low of $5.94 and a 1-year high of $11.10.

TransAlta Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be paid a $0.044 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.18 annualized dividend and a dividend yield of 1.65%. TransAlta’s dividend payout ratio is 11.26%.

Institutional Trading of TransAlta

Several institutional investors have recently modified their holdings of the business. Metis Global Partners LLC bought a new stake in TransAlta during the third quarter valued at $360,000. Oppenheimer & Co. Inc. bought a new stake in TransAlta during the third quarter valued at $194,000. Entropy Technologies LP bought a new stake in TransAlta during the third quarter valued at $130,000. Tacita Capital Inc boosted its position in TransAlta by 11.7% during the third quarter. Tacita Capital Inc now owns 245,081 shares of the utilities provider’s stock valued at $2,544,000 after acquiring an additional 25,626 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new stake in TransAlta during the third quarter valued at $42,000. Institutional investors own 59.00% of the company’s stock.

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.