Jupiter Topco LLC Takes $1.43 Million Position in TransAlta Corporation $TAC

by · The Cerbat Gem

Jupiter Topco LLC acquired a new position in TransAlta Corporation (NYSE:TAC – Free Report) (TSE:TA) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 104,287 shares of the utilities provider’s stock, valued at approximately $1,434,000.

Several other institutional investors have also modified their holdings of TAC. EverSource Wealth Advisors LLC boosted its stake in TransAlta by 37.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,000 shares of the utilities provider’s stock valued at $38,000 after buying an additional 812 shares in the last quarter. Sage Rhino Capital LLC raised its position in TransAlta by 8.7% in the first quarter. Sage Rhino Capital LLC now owns 11,078 shares of the utilities provider’s stock worth $145,000 after acquiring an additional 882 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in TransAlta by 1.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 48,926 shares of the utilities provider’s stock valued at $620,000 after acquiring an additional 893 shares during the last quarter. Creative Planning lifted its holdings in TransAlta by 2.0% in the 3rd quarter. Creative Planning now owns 52,339 shares of the utilities provider’s stock valued at $715,000 after acquiring an additional 1,003 shares during the last quarter. Finally, Savant Capital LLC boosted its position in shares of TransAlta by 10.4% during the 4th quarter. Savant Capital LLC now owns 16,568 shares of the utilities provider’s stock valued at $209,000 after purchasing an additional 1,566 shares in the last quarter. Institutional investors and hedge funds own 59.00% of the company’s stock.

Analyst Ratings Changes

TAC has been the topic of several recent research reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of TransAlta in a research note on Monday, August 3rd. Zacks Research raised shares of TransAlta from a “strong sell” rating to a “hold” rating in a research note on Monday, August 17th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of TransAlta in a report on Friday, July 17th. Weiss Ratings lowered shares of TransAlta from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Finally, TD Cowen started coverage on TransAlta in a report on Wednesday, June 10th. They issued a “buy” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.50.

View Our Latest Analysis on TAC

TransAlta Stock Up 1.4%

TAC stock opened at $11.98 on Friday. The company has a debt-to-equity ratio of 3.64, a current ratio of 0.84 and a quick ratio of 0.77. The firm has a market capitalization of $3.79 billion, a P/E ratio of -66.55 and a beta of 0.70. TransAlta Corporation has a 52-week low of $11.38 and a 52-week high of $17.88. The company’s 50 day simple moving average is $12.98 and its 200-day simple moving average is $13.08.

TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. TransAlta had a negative net margin of 2.76% and a positive return on equity of 8.85%. The firm had revenue of $342.85 million during the quarter, compared to analyst estimates of $379.54 million. As a group, equities research analysts anticipate that TransAlta Corporation will post 0.21 EPS for the current year.

TransAlta Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, September 1st. TransAlta’s dividend payout ratio (DPR) is -111.11%.

TransAlta Profile

(Free Report)

TransAlta Corporation, originally founded in 1909 as Calgary Power Company Ltd., is a publicly traded energy company specializing in the development, ownership and operation of power generation and transmission assets. Headquartered in Calgary, Alberta, TransAlta has grown from its early hydroelectric roots into a diversified energy provider with a multi-fuel generating fleet.

The company’s core business activities encompass power generation, asset management and energy trading services.

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