Fox Run Management L.L.C. Takes $140,000 Position in TransAlta Corporation $TAC

Fox Run Management L.L.C. bought a new position in shares of TransAlta Corporation (NYSE:TAC) (TSE:TA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,952 shares of the utilities provider’s stock, valued at approximately $140,000.

A number of other large investors also recently modified their holdings of TAC. Sowell Financial Services LLC grew its stake in shares of TransAlta by 6.0% in the second quarter. Sowell Financial Services LLC now owns 23,892 shares of the utilities provider’s stock worth $258,000 after acquiring an additional 1,359 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in TransAlta by 48,666.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 4,389 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 4,380 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in TransAlta by 6.7% during the second quarter. Public Employees Retirement System of Ohio now owns 107,868 shares of the utilities provider’s stock valued at $1,161,000 after purchasing an additional 6,801 shares in the last quarter. Private Advisor Group LLC raised its position in shares of TransAlta by 64.9% in the 1st quarter. Private Advisor Group LLC now owns 17,525 shares of the utilities provider’s stock valued at $164,000 after purchasing an additional 6,900 shares during the last quarter. Finally, Heronetta Management L.P. lifted its stake in TransAlta by 10.4% during the 2nd quarter. Heronetta Management L.P. now owns 85,000 shares of the utilities provider’s stock valued at $917,000 after acquiring an additional 8,000 shares during the period. 59.00% of the stock is currently owned by institutional investors.

TransAlta Stock Performance

Shares of TAC opened at $14.59 on Friday. The stock has a market capitalization of $4.33 billion, a P/E ratio of -34.73 and a beta of 0.80. The firm’s fifty day simple moving average is $15.13 and its two-hundred day simple moving average is $12.41. The company has a current ratio of 0.79, a quick ratio of 0.72 and a debt-to-equity ratio of 4.98. TransAlta Corporation has a 12 month low of $7.82 and a 12 month high of $17.88.

TransAlta (NYSE:TAC) (TSE:TA) last announced its quarterly earnings data on Thursday, November 6th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The business had revenue of $441.57 million during the quarter, compared to the consensus estimate of $558.84 million. TransAlta had a negative net margin of 6.79% and a negative return on equity of 2.06%. As a group, analysts predict that TransAlta Corporation will post 0.41 EPS for the current year.

TransAlta Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 1st will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Monday, December 1st. TransAlta’s dividend payout ratio (DPR) is -37.50%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TAC shares. National Bankshares reissued an “outperform” rating on shares of TransAlta in a report on Tuesday, August 5th. CIBC restated an “outperform” rating on shares of TransAlta in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of TransAlta in a research report on Wednesday, October 8th. TD Securities reaffirmed a “buy” rating and issued a $20.00 price objective (up from $19.00) on shares of TransAlta in a research note on Tuesday, August 5th. Finally, Zacks Research cut TransAlta from a “hold” rating to a “strong sell” rating in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.88.

TransAlta Profile

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.