TransAlta (NYSE:TAC) Reaches New 52-Week High – Here’s What Happened

Shares of TransAlta Co. (NYSE:TAC) (TSE:TA) reached a new 52-week high on Tuesday . The stock traded as high as $10.78 and last traded at $10.67, with a volume of 462699 shares traded. The stock had previously closed at $10.29.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TAC shares. StockNews.com cut TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Desjardins reissued a “hold” rating on shares of TransAlta in a research report on Wednesday.

TransAlta Stock Performance

The company has a quick ratio of 0.75, a current ratio of 0.84 and a debt-to-equity ratio of 3.43. The company has a 50-day simple moving average of $9.93 and a two-hundred day simple moving average of $8.25. The firm has a market cap of $3.11 billion, a PE ratio of 6.90 and a beta of 0.92.

TransAlta Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Sunday, December 1st will be given a dividend of $0.044 per share. The ex-dividend date is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 1.69%. TransAlta’s dividend payout ratio is presently 11.26%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Clear Harbor Asset Management LLC bought a new stake in shares of TransAlta during the 2nd quarter valued at $514,000. Jupiter Asset Management Ltd. bought a new stake in shares of TransAlta during the 1st quarter valued at $3,779,000. Skandinaviska Enskilda Banken AB publ raised its stake in shares of TransAlta by 122.7% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 143,400 shares of the utilities provider’s stock valued at $1,015,000 after purchasing an additional 79,000 shares during the period. Clayton Partners LLC raised its stake in shares of TransAlta by 2,293.5% during the 2nd quarter. Clayton Partners LLC now owns 458,155 shares of the utilities provider’s stock valued at $3,244,000 after purchasing an additional 439,013 shares during the period. Finally, Acadian Asset Management LLC increased its stake in TransAlta by 71.9% in the 1st quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider’s stock worth $4,131,000 after acquiring an additional 269,444 shares during the last quarter. Hedge funds and other institutional investors own 59.00% of the company’s stock.

TransAlta Company 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.