PCJ Investment Counsel Ltd. Takes $2.57 Million Position in TransAlta Co. (NYSE:TAC)

PCJ Investment Counsel Ltd. bought a new stake in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 248,250 shares of the utilities provider’s stock, valued at approximately $2,573,000. PCJ Investment Counsel Ltd. owned about 0.08% of TransAlta at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clear Harbor Asset Management LLC acquired a new stake in shares of TransAlta during the 2nd quarter valued at approximately $514,000. Skandinaviska Enskilda Banken AB publ raised its position 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 acquiring an additional 79,000 shares in the last quarter. Clayton Partners LLC raised its position 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 acquiring an additional 439,013 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of TransAlta by 71.9% during the 1st quarter. Acadian Asset Management LLC now owns 643,988 shares of the utilities provider’s stock valued at $4,131,000 after acquiring an additional 269,444 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of TransAlta by 9.0% during the 2nd quarter. National Bank of Canada FI now owns 3,618,296 shares of the utilities provider’s stock valued at $25,267,000 after acquiring an additional 299,594 shares in the last quarter. 59.00% of the stock is owned by institutional investors and hedge funds.

TransAlta Price Performance

Shares of TAC opened at $10.35 on Wednesday. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 27.97 and a beta of 0.92. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.67 and a current ratio of 0.74. TransAlta Co. has a one year low of $5.94 and a one year high of $11.10. The stock’s fifty day moving average is $10.15 and its 200-day moving average is $8.46.

TransAlta Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Sunday, December 1st will be paid a $0.044 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.18 dividend on an annualized basis and a yield of 1.70%. TransAlta’s dividend payout ratio is currently 45.95%.

Analyst Ratings Changes

Several equities research analysts have weighed in on TAC shares. Desjardins reaffirmed 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.