TransAlta Co. (NYSE:TAC) Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its stake in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 27.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,672 shares of the utilities provider’s stock after purchasing an additional 6,385 shares during the period. Y Intercept Hong Kong Ltd’s holdings in TransAlta were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Blue Trust Inc. increased its stake in shares of TransAlta by 1,381.5% in the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 3,951 shares during the period. Financial Management Professionals Inc. acquired a new position in shares of TransAlta in the 3rd quarter valued at about $42,000. Quantbot Technologies LP purchased a new stake in shares of TransAlta in the third quarter worth about $61,000. Evergreen Capital Management LLC acquired a new stake in TransAlta during the second quarter worth about $72,000. Finally, Sage Rhino Capital LLC purchased a new position in TransAlta during the second quarter valued at approximately $79,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TAC. Desjardins restated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. Scotiabank raised shares of TransAlta to a “strong-buy” rating in a report on Thursday, December 5th. Finally, StockNews.com cut shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th.

TransAlta Stock Up 3.1 %

TransAlta stock opened at $14.34 on Wednesday. TransAlta Co. has a 12 month low of $5.94 and a 12 month high of $14.39. The stock has a market capitalization of $4.27 billion, a PE ratio of 38.76 and a beta of 0.91. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67. The business has a 50 day simple moving average of $10.95 and a 200-day simple moving average of $9.14.

TransAlta Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Saturday, March 1st will be given a dividend of $0.0423 per share. This represents a $0.17 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Friday, February 28th. TransAlta’s dividend payout ratio is presently 45.95%.

About TransAlta

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.