Franklin Resources Inc. Sells 19,713 Shares of TransAlta Co. (NYSE:TAC)

Franklin Resources Inc. lessened its holdings in TransAlta Co. (NYSE:TACFree Report) (TSE:TA) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,300 shares of the utilities provider’s stock after selling 19,713 shares during the quarter. Franklin Resources Inc.’s holdings in TransAlta were worth $884,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Rubric Capital Management LP raised its position in shares of TransAlta by 28.6% in the 3rd quarter. Rubric Capital Management LP now owns 4,404,844 shares of the utilities provider’s stock valued at $38,322,000 after acquiring an additional 978,354 shares during the period. National Bank of Canada FI raised its position in shares of TransAlta by 23.4% in the 4th quarter. National Bank of Canada FI now owns 4,199,245 shares of the utilities provider’s stock valued at $34,612,000 after acquiring an additional 796,503 shares during the period. Royal Bank of Canada raised its position in shares of TransAlta by 1.5% in the 3rd quarter. Royal Bank of Canada now owns 39,322,839 shares of the utilities provider’s stock valued at $342,110,000 after acquiring an additional 581,454 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of TransAlta in the 4th quarter valued at approximately $1,835,000. Finally, Mackenzie Financial Corp raised its position in shares of TransAlta by 2.4% in the 4th quarter. Mackenzie Financial Corp now owns 6,370,416 shares of the utilities provider’s stock valued at $53,007,000 after acquiring an additional 149,378 shares during the period. Institutional investors own 59.00% of the company’s stock.

TransAlta Stock Performance

Shares of NYSE:TAC opened at $7.29 on Friday. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 4.70 and a beta of 0.87. The firm’s 50 day simple moving average is $6.78 and its 200 day simple moving average is $7.21. The company has a debt-to-equity ratio of 2.95, a current ratio of 0.69 and a quick ratio of 0.62. TransAlta Co. has a fifty-two week low of $5.94 and a fifty-two week high of $10.40.

TransAlta (NYSE:TACGet Free Report) (TSE:TA) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.40. The business had revenue of $702.47 million for the quarter. TransAlta had a net margin of 18.70% and a return on equity of 45.47%. As a group, sell-side analysts forecast that TransAlta Co. will post 0.72 earnings per share for the current year.

TransAlta Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Saturday, June 1st will be issued a dividend of $0.0438 per share. This is an increase from TransAlta’s previous quarterly dividend of $0.04. This represents a $0.18 annualized dividend and a yield of 2.40%. The ex-dividend date is Friday, May 31st. TransAlta’s dividend payout ratio (DPR) is 10.97%.

TransAlta Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for TransAlta (NYSE:TAC)

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