TransAlta Co. (NYSE:TAC) Short Interest Down 27.9% in October

TransAlta Co. (NYSE:TAC) (TSE:TA) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 930,600 shares, a decrease of 27.9% from the September 30th total of 1,290,000 shares. Based on an average daily volume of 136,200 shares, the days-to-cover ratio is currently 6.8 days. Currently, 0.3% of the company’s shares are short sold.

Shares of TransAlta stock traded up $0.19 during trading on Thursday, reaching $6.75. 119,400 shares of the company traded hands, compared to its average volume of 149,807. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.02 and a quick ratio of 1.69. TransAlta has a 1-year low of $3.99 and a 1-year high of $7.61. The company has a 50 day moving average price of $6.23 and a 200-day moving average price of $6.37. The firm has a market capitalization of $1.83 billion, a PE ratio of -12.74 and a beta of 1.17.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Monday, December 2nd will be given a dividend of $0.03 per share. The ex-dividend date is Friday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.78%. TransAlta’s payout ratio is presently -22.64%.

A number of equities research analysts have recently commented on the stock. Credit Suisse Group reaffirmed a “hold” rating and issued a $10.00 price objective on shares of TransAlta in a research note on Thursday, September 19th. CIBC reaffirmed a “hold” rating and issued a $9.50 price objective on shares of TransAlta in a research note on Wednesday, October 23rd. ValuEngine lowered shares of TransAlta from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Scotiabank set a $11.00 target price on shares of TransAlta and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Zacks Investment Research upgraded shares of TransAlta from a “sell” rating to a “hold” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $9.31.

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in shares of TransAlta by 727.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,644 shares of the utilities provider’s stock valued at $50,000 after acquiring an additional 6,720 shares during the period. Jane Street Group LLC acquired a new position in shares of TransAlta during the 2nd quarter valued at $80,000. Corient Capital Partners LLC acquired a new position in TransAlta during the third quarter worth $81,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in TransAlta by 12.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,660 shares of the utilities provider’s stock worth $122,000 after buying an additional 2,068 shares during the last quarter. Finally, Man Group plc acquired a new position in TransAlta during the second quarter worth $125,000. Institutional investors own 49.67% of the company’s stock.

TransAlta Company Profile

TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. It operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate. The company generates and markets electricity through various generation fuels, such as coal, natural gas, water, solar, and wind.

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