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

PCJ Investment Counsel Ltd. purchased a new position in shares of TransAlta Co. (NYSE:TAC) (TSE:TA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 248,250 shares of the utilities provider’s stock, valued at approximately $2,573,000.

A number of other institutional investors and hedge funds have also modified their holdings of TAC. Blue Trust Inc. increased its position in shares of TransAlta by 1,381.5% during the second 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. bought a new stake in shares of TransAlta during the third quarter valued at approximately $42,000. Mather Group LLC. bought a new stake in shares of TransAlta during the second quarter valued at approximately $64,000. Janney Montgomery Scott LLC bought a new stake in shares of TransAlta during the first quarter valued at approximately $66,000. Finally, Evergreen Capital Management LLC bought a new stake in shares of TransAlta during the second quarter valued at approximately $72,000. 59.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on TAC. 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 note on Wednesday, November 6th.

TransAlta Price Performance

TransAlta stock opened at $10.35 on Wednesday. The business’s 50-day simple moving average is $10.15 and its 200 day simple moving average is $8.46. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 27.97 and a beta of 0.92. TransAlta Co. has a 12-month low of $5.94 and a 12-month high of $11.10. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 2.94.

TransAlta Dividend Announcement

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

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.