TransAlta (NYSE:TAC) Hits New 1-Year High – Time to Buy?

TransAlta Co. (NYSE:TAC) (TSE:TA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $11.71 and last traded at $11.64, with a volume of 253279 shares trading hands. The stock had previously closed at $11.59.

Wall Street Analyst Weigh In

Several research firms recently commented on TAC. StockNews.com lowered shares of TransAlta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 6th. Desjardins reiterated a “hold” rating on shares of TransAlta in a research note on Wednesday, November 6th.

TransAlta Trading Up 1.3 %

The stock’s fifty day simple moving average is $10.51 and its 200 day simple moving average is $8.78. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94. The firm has a market capitalization of $3.49 billion, a PE ratio of 31.57 and a beta of 0.91.

TransAlta Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors 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 1.51%. TransAlta’s dividend payout ratio is 48.65%.

Hedge Funds Weigh In On TransAlta

Several institutional investors have recently bought and sold shares of TAC. Blue Trust Inc. increased its position in TransAlta by 1,381.5% during the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 3,951 shares during the period. Financial Management Professionals Inc. acquired a new stake in TransAlta during the 3rd quarter worth about $42,000. Quantbot Technologies LP acquired a new stake in shares of TransAlta during the third quarter worth about $61,000. Mather Group LLC. purchased a new stake in TransAlta in the second quarter valued at approximately $64,000. Finally, Evergreen Capital Management LLC acquired a new position in TransAlta in the 2nd quarter worth approximately $72,000. 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.