Potrero Capital Research LLC Makes New $5.09 Million Investment in TransAlta Co. (NYSE:TAC)

Potrero Capital Research LLC bought a new position in TransAlta Co. (NYSE:TAC) (TSE:TA) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 491,141 shares of the utilities provider’s stock, valued at approximately $5,088,000. TransAlta makes up about 1.6% of Potrero Capital Research LLC’s investment portfolio, making the stock its 21st largest holding. Potrero Capital Research LLC owned 0.16% of TransAlta at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TAC. Blue Trust Inc. increased its holdings in TransAlta by 1,381.5% in the 2nd quarter. Blue Trust Inc. now owns 4,237 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 3,951 shares in the last quarter. Financial Management Professionals Inc. acquired a new position in TransAlta in the 3rd quarter worth about $42,000. Quantbot Technologies LP acquired a new position in TransAlta in the 3rd quarter worth about $61,000. Mather Group LLC. bought a new stake in shares of TransAlta in the 2nd quarter valued at about $64,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of TransAlta in the 2nd quarter valued at about $72,000. Institutional investors and hedge funds own 59.00% of the company’s stock.

TransAlta Trading Down 0.5 %

NYSE TAC opened at $11.53 on Wednesday. TransAlta Co. has a 12 month low of $5.94 and a 12 month high of $11.71. The company has a current ratio of 0.74, a quick ratio of 0.67 and a debt-to-equity ratio of 2.94. The business’s 50-day moving average price is $10.48 and its two-hundred day moving average price is $8.76. The firm has a market capitalization of $3.44 billion, a PE ratio of 31.16 and a beta of 0.91.

TransAlta Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 1.53%. TransAlta’s payout ratio is 48.65%.

Analysts Set New Price Targets

A number of equities research analysts have commented on TAC shares. Desjardins reiterated a “hold” rating on shares of TransAlta in a research report on Wednesday, November 6th. StockNews.com lowered TransAlta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 6th.

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.