Geode Capital Management LLC Grows Holdings in TransAlta Co. (NYSE:TAC)

Geode Capital Management LLC increased its stake in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) by 2.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 122,621 shares of the utilities provider’s stock after purchasing an additional 2,524 shares during the period. Geode Capital Management LLC’s holdings in TransAlta were worth $1,277,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rubric Capital Management LP lifted its position in shares of TransAlta by 20.0% during the third quarter. Rubric Capital Management LP now owns 5,622,961 shares of the utilities provider’s stock worth $58,254,000 after purchasing an additional 935,803 shares in the last quarter. FMR LLC lifted its holdings in TransAlta by 9.8% during the 3rd quarter. FMR LLC now owns 4,593,023 shares of the utilities provider’s stock worth $47,613,000 after buying an additional 408,184 shares in the last quarter. Yaupon Capital Management LP boosted its position in TransAlta by 69.9% in the 3rd quarter. Yaupon Capital Management LP now owns 2,685,955 shares of the utilities provider’s stock valued at $27,840,000 after buying an additional 1,105,191 shares during the period. Point72 Asset Management L.P. grew its stake in shares of TransAlta by 37.8% in the third quarter. Point72 Asset Management L.P. now owns 1,286,800 shares of the utilities provider’s stock worth $13,343,000 after acquiring an additional 352,860 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of TransAlta by 22.3% during the second quarter. The Manufacturers Life Insurance Company now owns 929,631 shares of the utilities provider’s stock worth $6,582,000 after acquiring an additional 169,219 shares during the period. Institutional investors and hedge funds own 59.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com lowered TransAlta from a “buy” rating to a “hold” rating in a report on Saturday, January 4th. CIBC cut TransAlta from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday. Scotiabank upgraded shares of TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Desjardins reiterated a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

TransAlta Stock Performance

NYSE:TAC opened at $13.27 on Friday. TransAlta Co. has a 12 month low of $5.94 and a 12 month high of $14.64. 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 firm has a market capitalization of $3.96 billion, a PE ratio of 35.87 and a beta of 0.84. The business’s fifty day moving average price is $12.23 and its 200 day moving average price is $9.95.

TransAlta Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Saturday, March 1st will be issued a $0.0423 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.17 dividend on an annualized basis and a dividend yield of 1.28%. TransAlta’s payout ratio is currently 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.