SeaCrest Wealth Management LLC Acquires Shares of 4,700 TransAlta Co. (NYSE:TAC)

SeaCrest Wealth Management LLC bought a new position in shares of TransAlta Co. (NYSE:TACGet Rating) (TSE:TA) in the 2nd quarter, Holdings Channel reports. The fund bought 4,700 shares of the utilities provider’s stock, valued at approximately $54,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. 1832 Asset Management L.P. raised its stake in TransAlta by 153.2% during the 1st quarter. 1832 Asset Management L.P. now owns 5,497 shares of the utilities provider’s stock valued at $56,000 after acquiring an additional 3,326 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of TransAlta by 61.1% during the second quarter. Lazard Asset Management LLC now owns 11,683 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 4,433 shares during the last quarter. Versor Investments LP lifted its holdings in shares of TransAlta by 10.4% during the first quarter. Versor Investments LP now owns 70,008 shares of the utilities provider’s stock worth $724,000 after purchasing an additional 6,600 shares during the period. Advisors Asset Management Inc. grew its position in TransAlta by 47.9% in the 1st quarter. Advisors Asset Management Inc. now owns 22,023 shares of the utilities provider’s stock valued at $228,000 after buying an additional 7,128 shares during the last quarter. Finally, UBS Group AG increased its stake in TransAlta by 57.1% in the 1st quarter. UBS Group AG now owns 27,865 shares of the utilities provider’s stock valued at $289,000 after buying an additional 10,130 shares during the period. Hedge funds and other institutional investors own 62.72% of the company’s stock.

Analysts Set New Price Targets

TAC has been the topic of a number of recent analyst reports. National Bank Financial boosted their price target on shares of TransAlta from C$13.00 to C$14.00 in a research note on Wednesday, November 9th. Scotiabank lifted their price target on TransAlta from C$15.50 to C$16.00 in a research note on Wednesday, November 9th. TD Securities cut their price objective on TransAlta from C$18.00 to C$17.50 in a research report on Wednesday, November 9th. Credit Suisse Group boosted their target price on shares of TransAlta from C$15.00 to C$17.00 in a research report on Wednesday, November 9th. Finally, TheStreet downgraded shares of TransAlta from a “c-” rating to a “d+” rating in a report on Wednesday, August 17th.

TransAlta Stock Up 0.3 %

TransAlta stock opened at $9.32 on Friday. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 38.83 and a beta of 0.97. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.03 and a current ratio of 1.09. TransAlta Co. has a fifty-two week low of $7.55 and a fifty-two week high of $12.13. The stock’s fifty day moving average is $8.90 and its two-hundred day moving average is $10.16.

TransAlta Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 1st will be issued a dividend of $0.04 per share. This is an increase from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.16 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, November 30th. TransAlta’s dividend payout ratio (DPR) is 62.50%.

TransAlta Company Profile

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TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through four segments: Hydro, Wind and Solar, Gas, and Energy Transition. owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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