Entropy Technologies LP Buys New Position in TransAlta Co. (NYSE:TAC)

Entropy Technologies LP acquired a new stake in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 12,500 shares of the utilities provider’s stock, valued at approximately $130,000.

Other institutional investors have also added to or reduced their stakes in the company. Clayton Partners LLC raised its stake in TransAlta by 2,293.5% in the second quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock worth $3,244,000 after buying an additional 439,013 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of TransAlta during the first quarter valued at approximately $2,246,000. National Bank of Canada FI grew its stake in TransAlta by 9.0% in the second quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock worth $25,267,000 after purchasing an additional 299,594 shares during the period. Acadian Asset Management LLC raised its holdings in TransAlta by 71.9% in the first quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider’s stock worth $4,131,000 after purchasing an additional 269,444 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in TransAlta by 22.3% during the second quarter. The Manufacturers Life Insurance Company now owns 929,631 shares of the utilities provider’s stock valued at $6,582,000 after buying an additional 169,219 shares during the period. 59.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TAC. StockNews.com lowered shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Desjardins reissued a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th.

TransAlta Price Performance

TAC opened at $10.26 on Monday. The firm has a market cap of $3.06 billion, a PE ratio of 27.73 and a beta of 0.92. The stock has a 50-day moving average price of $10.12 and a 200-day moving average price of $8.43. TransAlta Co. has a 1 year low of $5.94 and a 1 year high of $11.10. The company has a debt-to-equity ratio of 2.94, a current ratio of 0.74 and a quick ratio of 0.67.

TransAlta Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be issued a dividend of $0.044 per share. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Friday, November 29th. TransAlta’s payout ratio is 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.