Sage Rhino Capital LLC Makes New Investment in TransAlta Co. (NYSE:TAC)

Sage Rhino Capital LLC purchased a new position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,091 shares of the utilities provider’s stock, valued at approximately $79,000.

Several other large investors also recently bought and sold shares of TAC. Signaturefd LLC boosted its position in shares of TransAlta by 173.4% during the 2nd quarter. Signaturefd LLC now owns 21,199 shares of the utilities provider’s stock worth $150,000 after acquiring an additional 13,444 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of TransAlta during the 2nd quarter worth approximately $172,000. Blue Trust Inc. raised its stake in shares of TransAlta by 1,381.5% during the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after buying an additional 3,951 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new position in shares of TransAlta during the 2nd quarter worth approximately $514,000. Finally, Mather Group LLC. purchased a new position in shares of TransAlta during the 2nd quarter worth approximately $64,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

TransAlta Stock Performance

NYSE TAC opened at $8.80 on Friday. The business has a 50 day moving average price of $7.69 and a 200 day moving average price of $7.11. The company has a market capitalization of $2.63 billion, a P/E ratio of 5.68 and a beta of 0.88. The company has a debt-to-equity ratio of 3.43, a current ratio of 0.84 and a quick ratio of 0.75. TransAlta Co. has a 1-year low of $5.94 and a 1-year high of $9.95.

TransAlta (NYSE:TAC) (TSE:TA) last announced its earnings results on Thursday, August 1st. The utilities provider reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $425.37 million for the quarter. TransAlta had a return on equity of 47.71% and a net margin of 18.41%. During the same quarter last year, the company posted $0.17 EPS. Sell-side analysts expect that TransAlta Co. will post 0.75 EPS for the current fiscal year.

TransAlta Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Sunday, September 1st will be issued a dividend of $0.044 per share. This represents a $0.18 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, August 30th. This is a boost from TransAlta’s previous quarterly dividend of $0.04. TransAlta’s dividend payout ratio is 11.61%.

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.