TransAlta Co. (NYSE:TAC) Shares Acquired by Rubric Capital Management LP

Rubric Capital Management LP lifted its position in TransAlta Co. (NYSE:TAC) (TSE:TA) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,622,961 shares of the utilities provider’s stock after purchasing an additional 935,803 shares during the period. TransAlta comprises about 0.9% of Rubric Capital Management LP’s portfolio, making the stock its 29th biggest holding. Rubric Capital Management LP owned about 1.88% of TransAlta worth $58,254,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of TransAlta by 6.9% during the third quarter. Creative Planning now owns 53,803 shares of the utilities provider’s stock worth $557,000 after purchasing an additional 3,492 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of TransAlta by 1,381.5% in the second quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 3,951 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in shares of TransAlta during the third quarter worth approximately $42,000. Signaturefd LLC raised its stake in TransAlta by 23.6% in the 3rd quarter. Signaturefd LLC now owns 26,207 shares of the utilities provider’s stock valued at $272,000 after purchasing an additional 5,008 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in TransAlta in the 3rd quarter valued at $61,000. 59.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TAC has been the subject of a number of research reports. StockNews.com lowered shares of TransAlta from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. Desjardins restated a “hold” rating on shares of TransAlta in a report on Wednesday, November 6th.

TransAlta Stock Up 0.7 %

NYSE TAC opened at $10.87 on Wednesday. The business’s fifty day simple moving average is $10.33 and its 200-day simple moving average is $8.61. 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 cap of $3.24 billion, a PE ratio of 29.38 and a beta of 0.92. TransAlta Co. has a 52 week low of $5.94 and a 52 week high of $11.10.

TransAlta Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Sunday, December 1st will be issued a $0.044 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.18 annualized dividend and a yield of 1.62%. TransAlta’s payout ratio is 45.95%.

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.